re: roc v hdr For the Rocers.
Doran in Angola as we speak and is due back next week sometime. Hopefully with positive news in regards to triggering the PSC.
Has anyone crunched any rough numbers on this one? Chinguetti and cliff head will add around 8500 bopd and are both expected to be online late 2005. If the POO is around $US30 I will assume a profit of $A14 a barrel at worst. These two fields alone should add around $A43M to the bottom line. At a p/e of 15, that equates to around $4.60 a share without Saltfleetby which will also increase production shortly with a little luck. Even at a 50% discount to go ultra conservative we will be well over $2 with a little patience IMHO.
Any opinions?
"Opportunities to further develop Saltfleetby’s reserves are being pursued. A development well (SF8) is being considered, with the objective of producing gas from an undeveloped area in the southern part of the field. If successful, ROC believes that this well could increase gas production by about 5 mmscfd (about 20% of the 31 December 2003 rate) from late 2004."
Cheers,
xmagx
HDR
hardman resources limited
