Drilling of sealion on the new rig will cost a fraction if they used another a drilling company. Has 80% chance of success to add 20m barrels to current MOPU.
We r talking adding 20 yrs to life at >10,000 barrels a day.
Put the projects NPV closer to 500m (TDO SHARE)as there are no extra capital costs...
Company playing down this as there is no certainty of drilling, but I would expect it to be no brainier.
REX technology puts the prospects at vic/57 as extremely high chance of success.
Then we are talking cash flow and drilling other prospects and such.
My valuation puts company at 30c not pricing in any prospects.
Also I don't include the saving from getting such a cheap rig which can drill as well as pump. Could be closer to 40c
Sealion bolt on is $1.50-$2.00 +++
Recent selling is complete with fund manager having to re weight...
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Open | High | Low | Value | Volume |
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1 | 100000 | 0.076 |
4 | 60505 | 0.075 |
1 | 55000 | 0.073 |
1 | 300000 | 0.071 |
Price($) | Vol. | No. |
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0.082 | 46336 | 1 |
0.085 | 150000 | 1 |
0.086 | 83966 | 1 |
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