love a good broker report, page-5

Good to hear Spawk. As Bob Hawke would say, here's an interesting set of number.....

Current increase at Torosa takes WPL net share of 44.1% to 1383.17 mmboe (up from 1187.7 mmboe).

100% equity is 3136.3 mmboe (up frm 2693.3 mmboe refer Annual rep).

Noticed yesterday's AFR quoted UBS suggesting 23% sale at $1.5bil & Citi's estimates of 16% sale at $1.6bil.

So applying these to the net revised resource gives a ballpark metric of $4.72 to 7.23/boe).

i.e, 23% * 1383mmboe *$4.72 = $1.5bil.

Not sure if there's any offtake agreement factored in yet, still early days.

Wonder if the ML or others covering KAR will apply this ballpark metric to KAR's 40% share of Poseidon, once they get past the 'Prospective & Contingent' definitions ;)

Later...