This company will be a cash cow for someone.Lovely little cash producing asset just rolling in money for the next 6 years or so without any unnecessary drilling, add in WL or Galoc North expansion(potential). A company with deep pockets would be willing to pay a big premium to current market cap. IMO
Has the potential to add 5000bopd production for at least six years - equates to income potentially of 170 million per year for 6 years - $1billion.
In my opinion this has been going on for sometime now which explains the sell down pre bara and during bara. It has traded back to 4.2c which will be a percentage of the total offer which by my guess will be around $120 to $150 million first up!
Who said Phil and management would be too greedy and protect there jobs?
Whats it worth!! Soon find out!
NDO Price at posting:
4.1¢ Sentiment: Buy Disclosure: Held
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