By my calculations (below)
On gross EUR of 26.8MMBO (more than the 2P to allow for some value to enhanced recovery from injection wells), over 11 year field life and 10 producing wells using approx 1,500 bopd initial production rate and end rate 50 bopd and gross Capex spend of $246M
TAP with 30% interest yields:
NPV10 : $146M
Per share value : $0.60
IRR : approx 83%
with Oil at $100 bbl fixed
LOE at $15/Bbl
and "Thai III" Fiscal applied with sliding royalty and PIT assessed (with depreciating 100% of Capex over 5 years straightline)
This compares well with the other I hold (Coastal Energy on TSX if anyone wants to know) with IRR in 65% - 163% range depending on well production.
Happy with my purchase today!
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