@DreamCatcherthanks for sharing, had a quick read of it; can't...

@DreamCatcher

thanks for sharing, had a quick read of it; can't share it as it has my email watermarked all over it and also i dont want to get into trouble lol.

TBH it's nothing we don't all already know already!

they have the following valuation targets:

• Core NAV of $0.091/share based on 2P
• Tangible NAV of $0.115/share based on 2C
• Risked Exploration NAV of $0.123/share including Phase III development

Interesting comments i found:

• They list one of the key risks for the development is that we are an acquisitional target as we are currently trading at US$ 1.4/boe of 2P while the UK North Sea peer average sits at US$ 11.5/boe of 2P
• And also based on prior M&A activity the average transaction is at US$14/boe which is 10 times our current valuation and higher that their discounted conservative valuation of US$7.8/boe which produces the above targets.

(If anyone wants to get it, you just need an email address and credit card handy to sign up for their 7 day trial and cancel it afterwards! )


We are overdue some news on the 33rd round of licenses, EPIC contract award and also Ocean Observer just pulled into port few hours ago so maybe the survey is done?

Anyway, exciting times. Not so exciting stock price.. but hopefully that changes for us soon!