I'm just trying to wrap my head around the best way to value BKP.
If we're to work off some of the figures being circulated around the forum of a P90 estimate of 4.8 billion barrels of oil, if only 1% of that figure was recoverable, that would still equate to 48M barrels of oil.
48M * $50 (currently price of oil is a $84 USD, but lets be ultra conservative and factor in overheads) this would still equate to a value of $2.4B. Take out BKP's 25% free carried interest and that leaves $600M for them.
Assuming USD / AUD parity, the value per share then becomes 23c ($600M / 2.6B shares) .
It's a clear multi bagger at these levels even based upon conservative estimations of:
- 1% recoverable
- USD / AUD parity
- $50 for a barrel of oil
Can't wait to see what tomorrow brings!
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