Very 'back of the envelope numbers' galileo_ and as i'd...

Very 'back of the envelope numbers' galileo_ and as i'd suggested the company does have a bright future but nowhere near 11.6 billion barrells worth.

Too many punters touting absolute rubbish here without reading the facts and happy to ramp it up. Nobody likes rampers and rampers are often their own demise.

Ok so based on 700 mmbls (though more than likely it will be 400 mmbls due to the farminee arrangement taking majority stake), and using a more conservative bbl price of $60 you get a value of $4.2 billion. That suggestively gives the company an asset of 4.2 billion and hence its market cap should theoretically be 10x its current which is around 478 million. Theory doesn't often apply in the market though.

I firmly believe Nido could get a better deal than giving out majority stake to a farminee - they control the package. However I believe, the reason for the majority % farmout is due, predominantly to the SC's expiration time.

NDO could be running out of time before their SC has to be forfeited, hence are enticing majors to get in there and drill asap. Though thats just a comment at this stage as I have not looked into NDO's expiry dates on permits.

One could assume that if they weren't in a rush, they would tender the package out, and not promote farming out the "majority share" hence something leads me to believe theres more to this story.....