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
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the bellpotter calculations as fol:QUOTELongtom sell-down still...
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Last
24.5¢ |
Change
0.020(8.89%) |
Mkt cap ! $67.08M |
Open | High | Low | Value | Volume |
22.5¢ | 24.5¢ | 22.5¢ | $11.70K | 50.68K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 19971 | 24.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
25.0¢ | 3516 | 3 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
1 | 19971 | 0.245 |
1 | 50000 | 0.240 |
1 | 149869 | 0.230 |
1 | 2371 | 0.225 |
1 | 75904 | 0.220 |
Price($) | Vol. | No. |
---|---|---|
0.250 | 3516 | 3 |
0.255 | 71 | 1 |
0.260 | 22127 | 3 |
0.275 | 12350 | 1 |
0.290 | 8000 | 1 |
Last trade - 14.21pm 12/07/2024 (20 minute delay) ? |
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