Should b their Netback margin per Barrel (around 35%). Just model it for a field life of 15yrs for 1mil bbl/yr production of Oil. Discount this 25$/bbl revenue each year over those 15yrs field life. Add the lot & that's yr PV. Divide by 15mmbbls to get the 12.67/bbl figure.
Or
Do the quick version of 15yr annuity factor of (7.606 * 25$/bbl * 1mmil bbl) = USD190mil / 15mmbbls = 12.67/bbl metric.
Change the production to 3 mmbls/year times 25$, divide by 75c & then by 1800m SOI for 42.2c/sh value for 45 mmbbls 2C resource.
Isn't rocket science to figure that out, explained this last month. Also create a matrix for varying POO scenario from USD 30-100/bbl for a fixed 25/bbl ntbk margin (or margin iterations of 30-40-50-60%). Enjoy..
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