Last Days!, page-151

I would say the valuation is slightly more than that based on the Q4 revenue and free-cashflow which was $470 million revenue and $149 million. So based on that and if the oil price stays roughly were it is, the should have close between $1.8 to $2 Billion in revenues for FY19 and free cashflow of $600 to $700 million.

So based on a 10 times multiple of Cash flow, I would give a market Cap of $6 Billion, the current market cap is $4.417 billion, so by my calculation that would give a share price of about $2.60. If the oil price goes up and the AUD to USD exchange rate stay were it is the valuation goes up. If brent held up above $80 USD for a couple of quarters, I would have a valuation closer to $3.

It's in a bit of a sides ways pattern at the moment, just needs a catalyst to break out of it to test new highs, then off too the races again.