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999 Posts.
566
02/12/19
11:18
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Looks like things have really ramped up since Africa Oil Week 2019 only weeks ago!
Why do I say this? Well have a look here....
http://envoi.co.uk/wp-content/uploa...(Zimbabwe-SG4571)EnvoIProjectIntroduction.pdf
I found this on the Envoi website over the weekend and it details what IVZ and Scott are wanting in terms of a farm out deal.
It is a long document but I've pulled out the most important details below....
When you work out the above;
$4.5 mil USD for seismic for well location
+$16-$20 mil USD for two wells
+$2.6 mil USD for incurred costs
Total $23.1 - $27.1 mil USD
Convert to AUD and we are looking at a farm in worth $31 mil AUD to $36 mil AUD
Not bad for a company worth $12.12mil AUD with $2.5 mil cash in bank!
The price may be suppressed at the moment, however as Scott has alluded to, this deal is about "unlocking the best value for shareholders".
If Scott can pull off the above (or even close to it) I think we will all be very happy!
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