The original ask of USD25m for 10% of Alkaid was a joke.
The recent acquisition/transaction of PANR/GB valued GB at USD49m for its 10% free carry of Winx#1(with 10% backin option), its 75% share of Alkaid, and the various other prospects/central block acerage.
The Alkaid flow test is budgeted at USD3.3m, and the lease renewal was USD1.3m.
We've still got a two well option on the Non Alkaid prospects (USD2m capped per well for 10%). Talitha (508mmbls target) is scheduled for 2020, and Theta (600mmbls target) 2020-21.
If we were offered a piece of the Alkaid action at the last minute, $2-3mil for 10% sounds about right, although we dont really have that cash spare imo.
The original ask of USD25m for 10% of Alkaid was a joke. The...
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