I value Poseidon (on a 2P basis) at $1.3-2.4 per Tcf for KAR's 40% share. So 5.5Tcf = $7 (for Poseidon alone) while 7Tcf gives over $9. And that is on two very conservative assumptions -
1) Tcf values based on only 50% of CoP CSM ORG purchases in a frothier gas market. On an equivalent basis, $2.4 per Tcf could be used giving $13 and $16 respectively.
2) Allows for significant dilution to raise brazil drilling money - out to 200m shares.
potential price?, page-3
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Last
$1.76 |
Change
0.025(1.44%) |
Mkt cap ! $1.412B | |||
| Open | High | Low | Value | Volume |
| $1.77 | $1.79 | $1.75 | $6.040M | 3.416M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 20933 | $1.76 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.77 | 350 | 1 |
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| Last trade - 16.10pm 09/08/2024 (20 minute delay) ? |
| KAR (ASX) Chart |