Hi Defplayer,While I agree with your valuation of the acreage...

Hi Defplayer,
While I agree with your valuation of the acreage and the near term projection of an SP at 36c, I think you are being optimistic in terms of the scenario 3 valuation,

If greater Surprise is 100 mmboe, then we cannot simply assume that this gives us an SP of $1.66 ... the valuation would be the Net Present Value of the future free cash flows from Surprise over the production life of the field ... I haven't done the numbers, but I expect that it would be about half of what you propose ... (happy for someone to build the model)

So my view $0.83 rather than $1.66 for a 100 mmboe field .... but suggest that we take it as a 10 mmboe field for the time being (being conservative until we know for sure)... so maybe an additional 16.6c from Surprise.

Add that to your acreage valuation and you're looking at 36c + 16c ... or near term 52c per share.

Market will wake up to this once facts are known ...