the bellpotter calculations as fol:
QUOTE
Longtom sell-down still on the cards
Earlier this year NXS agreed to sell 50% of the Longtom project for $155m to AED.However, some of the conditions for the sale were not able to be met, and NXS has
recently refunded a $35m deposit paid by AED, so it still owns 100% of the project.
The company has indicated that a sell-down is still under consideration, and we believe a much better price can be achieved as market conditions have improved substantially, and NXS is under less pressure to sell. Our DCF valuation of Longtom is $344m,
which equates to $0.90/GJ for gas reserves of 350PJ plus 4m barrels of condensate. This valuation is
arguably conservative, compared to market reserves multiples for companies like
Santos $1.34/GJ,
Arrow Energy $1.13/GJ and
Eastern Star Gas at $1.22/GJ(!).
Woodside’s reserves are valued at a premium $3.84/GJ equivalent as higher valued oil and LNG form a
much larger part of their asset portfolio.
If NXS can sell 50% of Longtom for $200m, this is equal to $0.21/share and the retention
of 50% would obviously be a positive for the share price UNQUOTE
- Forums
- ASX - Short Term Trading
- at the bottom of the long term trading range
the bellpotter calculations as fol:QUOTELongtom sell-down still...
-
-
- There are more pages in this discussion • 36 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add NXS (ASX) to my watchlist
|
|||||
Last
24.0¢ |
Change
0.005(2.13%) |
Mkt cap ! $70.11M |
Open | High | Low | Value | Volume |
23.5¢ | 24.0¢ | 23.3¢ | $3.257K | 13.57K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 6601 | 24.0¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
26.0¢ | 145820 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 17501 | 0.230 |
1 | 4545 | 0.220 |
1 | 25000 | 0.215 |
3 | 14448 | 0.205 |
1 | 20000 | 0.200 |
Price($) | Vol. | No. |
---|---|---|
0.260 | 145820 | 2 |
0.295 | 3390 | 1 |
0.310 | 45789 | 1 |
0.330 | 180900 | 3 |
0.350 | 79920 | 3 |
Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
Featured News
NXS (ASX) Chart |