@Ihavenoidea2035, You have to factor in cost of production. I'm no expert here, but this site (https://knoema.com/infographics/vyronoe/cost-of-oil-production-by-country) claims that Angola offshore, which is right next to Namibia, costs $40/barrel to produce, meaning there would be $37/barrel pre-tax profit at current prices. If they're paying tax in Namibia then I think they're looking at 35% for petroleum production (I could be wrong), bringing this down to $24/barrel. At 1.3 billion barrels, and there being around 7.5 billion shares on issue, that's:
$24 x 20% x 1.3 / 7.5 = 0.832 estimated value per share.
...if they hit the oil, no snags, and the oil price stays the same. Oh, and if I've factored in all the costs and other stuff.
Ann: Woodside Enters Into Exclusive Option on Namibia PEL 87, page-18
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