I recognise this is a best case scenario, but I thought the numbers were pretty amazing. Am I making a mistake? Can someone verify my calcs?
Assumptions:
Monterey: 100mmbbls Oil
Stevens: 100mmbbls Oil
Etchegoin: 200Bcf Gas
Assuming no associated gas with the oil. (But with a GOR of 3,000cf per bbl this could be massive value)
Oil valued at: US$15/bbl (Justifiable in today's price climate)
Gas valued at: US$3/mcf
Equity stake: 37.5%
SPP completed
All options (including management options) converted
Valuation:
FPO price (fully diluted): A$2.17 - Return = 4,018%
ETO price: A$2.12 - Return = 6,625%
These are big numbers, but the upside is there. Management seems pretty confident with their original estimates.
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