When I considered the metrics it was an agressive bookbuild range of about $1.90 to $2.30. With 400 million shares and the propsed borrowings it gave an enterprise value of over $1 billion.
With a P50 of 40 million barrels in Montaro and 6 million in Skua for say 50 million barrels it came up with a capital cost of $20/barrel.
If the book build came up at $1.70 this still gave the vendors $340 million for a deal with a long lead time and a number of risks.
coogee resources float .. views , page-23
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