Has anyone come up with figures for what BCP are paying per/brl for NDO's 2P
reserves ?
I'm just wondering what Galoc 2P reserves are worth now that OEL is in TH. (Although the TH could also be SC55 related)
Looking at the BCP/NDO transaction:
BCP are paying AUD113mil for the company
NDO's net cash balance is roughly zero @ 30-06-14
WL 2P UNdeveloped reserves are net 3.2mmbbls x USD10/brl = USD32m
Galoc 2P developed reserves are net 2.3mmbbls x USD25/brl= USD57.5m
Other permits/Galoc upside USD12m
Total USD101.5m / FX0.9 = ~AUD113m
You can juggle the numbers around but it has to add up to AUD113.
If USD25/brl is a fair value for 2P developed reserves, OEL's remaining 2P Galoc reserves would be worth:
3.2mmbbls x USD25 = USD80m / FX0.9 = AUD89m
NDO Price at posting:
5.4¢ Sentiment: None Disclosure: Not Held
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