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21.0¢ talon energy ltd

Ann: STX: Walyering gas field commences production, page-134

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ellj13

105 Posts.

37

06/10/23

11:32

Post #: 70206050
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Originally posted by Justadabble: ↑

Have now received the full Euroz report which I have compared to their previous report in the context of SE2 appraisal:-

South Erugulla was $764M -> now $809M
Value to STX was $0.30/share -> $0.32/share
Overall was $0.60/share -> $0.62/share

So despite the noise, probable conversion (won't be confirmed until December) of 178PJ from 2C to 2P is worth 2c a share to STX.

How can that be? Reason is, it's not a new discovery. The 178PJ is already valued in the $0.60/share but at a discounted rate for risk. The successful appraisal at SE2 has removed most of the risk (still have to get it out the ground and into the pipeline) but the lowering of the discount only has a marginal effect on the underlying valuation.

It is still a good result in terms of progressing South Erugulla into production and the long term revenue that should be derived but right here right now SP wise, it's a not a major event.

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I think the key point for me there is the 'de-risking' which has moved the market price closer to the analyst target. Great news for us.

Any success at SE3 should do the same, but am thinking it will be more priced in prior to results Imo.

Am holding tight

TPD Price at posting: 22.0¢ Sentiment: Buy Disclosure: Held
7 Upvote

0 Great analysis

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