As I read it, Beach Petroleum have sold 10% of the Offshore Bass Strait BMG project for $123 million .
10% of 40 Million Barrels (4 million barrels only) 2P reserve (plus gas) .
INP market cap $155 million . 75% of 120 + Million barrels plus gas Onshore at 30% recovery = 27 million barrels
27 million Barrels divided by 4 = 6.75
$123 million multiplied by 6.75 = $830 millon
$830 million oil( INP oil equity) divided by current market cap ($155 million) = 5.35
84 cents multiplied by 5.35 = $4.49 value .
CHEAP .
What will Beach do with their new found capital ?
Are there any undervalued Cooper Basin high equity stakes for sale these days, lol ?
As I read it, Beach Petroleum have sold 10% of the Offshore Bass...
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