A thought on SP value from 88E company sale viewpoint (sorry it...

A thought on SP value from 88E company sale viewpoint (sorry it is £sd, oops £p)

Share price 0.63p and Number shares 10.6 billion.
MC Market Capitalisation £67 million.

Site leases/projects:
Yukon + extended strip to coast.
Peregrine + Umiat.
Central North Slopes – conventional.
Central North Slopes – unconventional.

Past RNS’s say it all.
We have many substantial pockets of oil and gas yet to commercialise.
Backed up with 2D, 3D, computer analysis, drill data, historic contributions, etc.
Brent crude hit US$56 today.

Look at 88E valuation from another standpoint.
Suppose a ‘major’ wishes to expand into this oil rich region.
IF (this is just a suggestion) they offered £1 billion for 88E (ASX and AIM),
then:SP = £1,000,000,000 / 10,600,000,000 = 9.4p

Current SP = 0.63p, suggesting an under valuation of 15 times.
Risk – Yes.
But lower risk than many exploration sites and companies.
Potential upside on Peregrine success – substantial.
A drill based on a mixture of evidence - proximity to flowing wells, computer analysis, experience and judgement, prior company drill works.

Drills funded by Farminee, such as Charlie-1 and now Peregrine.
It is opinion as to whether the company with subsidiaries could attract £1b for 100% share buyout.
Shareholder Vote could Accept or Decline a serious large offer!

There are plenty of USA and foreign companies that could be interested, with £1b small fry….
- In the light of oncoming virus vaccination, increasing oil price, increasing travel demand, etc
Economies will be growing during 2021.
Oil is still a cornerstone of industry, commerce, tourism, energy, transport, chemicals, electricity generation.

Phrontist