Hevlet - price after jv who knows - we don't know what the jv is yet!
If it is just KNOC at 10m in and 25m in the ground then maybe 5c but it sounds like something much bigger is brewing - if it ends up being a big one like 50m and hundreds spend then what value do you put on it??
Everyone knows the oil is there the question is simply who has the money to get it out?
With 100,000km2 and offshore there could end up being 20 jv's over the next 2 years with a total of $US1b in upfronts and $US4b in spend for all we know - if Range is free carried to say 10-30% it must be worth billions.
Working backwards from 5 years time - 5billion barrels at say 20% free carried and a profit of $US10 pb gives $US10b market cap.
As for the consolidation - it is 20 to 1 (hence all the betting odds jokes) and why do so many people seem to know - well the stupid thing is with our legal system you have to lodge these types of things with ASIC for approval and once they are approved then for a small fee you can download it from the ASIC wesite - pretty stupid stuff don't you think !
RRS Price at posting:
0.0¢ Sentiment: Buy Disclosure: Not Held
