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04/09/14

18:07

Post #: 13926366
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I'd take a stab at what PB is

Originally posted by dicko55 ↑

Thanks LL,

For thinking I have the expertise to answer that question, but I don't, lol.
I would hope some of accounting people could jump in here if they could.
But here is a little go from me that may be close or not.
At the end of the day as asset is worth what someone is willing to pay for it. It maybe worth more to one person than the other, depending on their circumstances.
Looking at the 2014 balance sheet, the oil and gas division is valued at $566,275,000. I cant see PB willing to sell for that price. It wouldn't even pay the debt.
On the other hand they mention Umiat 2P reserves,
Proved & Probable (“2P”) reserves at 154.5 million barrels of oil equivalent
(“MMboe”), with a 2P NPV10% of US $2.5 billion
Proved, Probable & Possible (“3P”) reserves of 194
MMboe, with a 3P NPV10% of US$2.8 billion.
and the Gulf coast as
1P NPV10% of USD$489,000,000.

Now as much as I would love them to sell all the oil assets for $5.7 mil, I can't see anyone paying that, lol. So our Mr Peter must have a number some where in between. As I stated before I feel it needs to be at least $1b. Is that a reasonable number? No idea, but for things to work out successfully for Linc, I feel it needs to be that ball park.

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If I were to try and decipher PB's comment I would think that if he was happy that unsolicited offers were validating the "underlying value" I would think hes not talking book values (as you say) but he is referring to some of the values as as you mention in the net present values!!!

It wouldn't make sense any other way.....so if unsolicited offers are coming in around those types of values (wishful thinking) then he is maybe ......spinning to draw out some offers or hes being legit....either way Genting sure did like it!

LNC Price at posting: 99.5¢ Sentiment: Hold Disclosure: Not Held
2 Upvote

0 Great analysis

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SGX ann, page-30

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