Shiston Your numbers are correct but conservative. These multiples reflect west coast prices were gas is half that of the east coast. I could comfortably say a multiple of 1.75 is justified in this environment and even 2 Valuation wise it sits somewhere in the 400m plus million range Again - the issue is now two fold, its not a matter of only price but there is a strategic element for many business to secure supply for the viability of their operations you can further enhance valuation by incorporating the increased reserves that are very likely
The thing about corporate activity, it can be mighty quick way to plug a valuation gap , with the average bid premium coming in at 50%
Look at WGO and AWE Both were taken over for 100% of the trading price before the first bid was launched and things are a lot tighter now
COI Price at posting:
18.3¢ Sentiment: Buy Disclosure: Held
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