B2, I disagree.
Most fundamental analysts factor in some exploration element into an explorer's share price, using an expected return type formula.
ie If success = $1 per share and chance of success = 10%, then exploration value per share = 10 cents etc, and these premiums are often built into a price pre drilling.
Cooper has plenty of drilling to come, and has given success percentages for all of them. These have to have some value, otherwise why drill them at all.
You cannot simply value an oil company on net assets, does not recognise full value of the company.
B2, I disagree.Most fundamental analysts factor in some...
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