Early days in the silver marlin JV I know but I am just trying to sure-up what ERH has there; a long term winner or some early fires that fizzle? Need to be realistic always in this game. One is overly optimistic to their peril!!
Anyway, ERH is moving along nicely now. If 430 comes up with recoverable of 20mb, with 330 we are looking at about 11mb of reserves to ERH. This is at least a valuation of nearly A$400m at A$35+/Bbl of reserves. Equates to about $1.30/share. Nice little earner for the shorter term play too.
Will be staying tuned for all the scoop here...
Cheers, Antman
ERH Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
