here's my take
18.77% of 11000 bopd = 2064 bopd net to oel
Profit margins, i'll be rough as guts here, say sale at 65/bl -20 costs =45 /2 any sort of tax = $22.5 profit/ bl
say 300 days per yer, profit of galoc to OEL = 14 mill.
Then add to that turkey gas sales, that i understand are about 6-7 months away, and with the gas prices down a bit, lets say 5mill.
So, 19mill pa profit.
13 mill cash,
MC 64
NO DEBT
EV = 51 mill and 19 mill pa profit.
So, what should we be? again, ball park PE 10, 190mill mc.
ie 3.5x or a sp target of around 20c, to be fully priced in on our current and near to be, production facilities.
When you factor in, that 19m pa, is a pretty handy warchest to develope your other assets, exploration budget, the upside, is above the 20c valuation.
cheap!
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Open | High | Low | Value | Volume |
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9 | 16557452 | 0.010 |
1 | 100000 | 0.009 |
3 | 1495122 | 0.008 |
2 | 550000 | 0.007 |
Price($) | Vol. | No. |
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