https://www.forbes.com/sites/christ...to-pioneer-natural-resources/?sh=3f857bcc263cYes so just doing basic back of envelope math on that and what is could transpire for HE8 equally being taken out looks like the following
Currently circa 2.5bn shares all up so fully diluted market cap around $375m AUD at 15c.
The company has 85k Gross acres of which as He8 shareholders we have currently hold 60k acres.
Based on that transaction above being $40k USD an acre, purely for just the undeveloped land not even taking into account the further $30k per bbl and even just assuming a transaction price of $20k USD an acre (i think it would be far higher given quality of oil shown and size of oil field potential)
we are looking at 60000X20000X1.3 for AudUsd conversion a valuation of $1.5bn AUD for what we hold
and in the latest presentation the Ojinaga oil field is 300k acres in size of which HE8 have indication they will be acquiring further acreage so the holding once developed further could exponentially grow.
You have a potential 70c - $1 stock here if everything comes together and news flow supports it.
