All good.........however.......to realise the NPV and get to first oil , FAR will need to chip in their 15% of development cost - approx $750M to $900M.
This means a further large (66%?) dilution of existing shares to get to first oil if done by CR otherwise taking on a loan larger than current market cap - interestingly 0.33* 25c = 8c.
0.33* 52.6c = 17.35c
Increase in 2C or increase in oil price is required to get to 15c+ IMO - if we get good results in both then 25c is possible.
Cairn AGM CEO's statement, page-33
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46.5¢ |
Change
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Mkt cap ! $42.97M | |||
| Open | High | Low | Value | Volume |
| 47.0¢ | 47.0¢ | 45.5¢ | $31.34K | 67.88K |
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| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3338 | 46.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 47.0¢ | 199900 | 2 |
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