It seems my numbers have been challenged, so I will lay them out for clarity. People can do their own calculation.
Cairn's August 2016 NPV numbers are as follows
Then using the $US70 per barrel NPV of $US12.50 @ FID, and using FID Senegal 2019 (1 years time) and 2027 (9 years time for Gambia), Senegal FAR 13.7% intertest and in Gambia FAR 36.1% interest, and a discount factor of 10%.
ie Line 1 (12.5/1.1)*(561,000,000*0.137/.71)/5,462,000,000 = $0.23
Line 2 [12.5/(1.1*1.1*1.1*1.1*1.1*1.1*1.1*1.1*1.1)]*[800,000,000*4*0.137*0.66/.71]/5,462,000,000 = $0.40
Total = $0.62.
At $US80 per barrel a total of $0.82. ie between $0.70 and $0.80 as I said in post above.
Note the market is only paying $0.11 for Senegals $0.23 value.
Obviously a big player will not pay $0.80, hence why I said 40 cents with a successful Gambia drill result at end November.
As Mr Hustler says Gambia could be more important than Senegal.
Hopefully Trumpie doesn't spoil it.
IMO and DYOR.
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