Once 40% Galp is sold off, we should have our numbers per barrel.
Assuming we strike oil on first drill at cost of around 50 mill, our portion of drill will cost 10 mill in order to retain our 20% which is very acheivable with a cap raise.
At 12 cents, we would see dilution of less than 84 million shares.
At $2.80, less than 3.6m
its all going to come back to estimates and what 1st hole yields.
I didnt hold FAR or NWE so a bit outside my scope in terms of possible scenarios that can unfold
but almost at 6 digits with my holdings valuation and sittling comfortably in what might be my ignorance
Once 40% Galp is sold off, we should have our numbers per...
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