Camden, mid last year there was a thread running about valuing...

Camden, mid last year there was a thread running about valuing CTP by way of looking at the $/GJ that previous companies were sold for.  You can check out the thread in the link at the bottom and see the discussion behind it all.  The result of that thread concluded that roughly (as a back of the fag packet calc) a decent starting point is the company is worth about $1/GJ for its 2P reserves.  The 3P reserves numbers might be used if these are considered to be accurate and likely to be turned into 2P but with CTP our 3P aren't much bigger than our 2P anyway.

So with this in mind the rough numbers would be:
2P = approx. 130PJ (note 50% of Meerenie is owned by Mac bank) which gives a value of $130M
and for 433M shares that equates to 30c/ share.

You can tag on a bit more for oil reserves and maybe something for our large acreage and maybe justify something like 40c/ share for the company in its current state.  A favourable transport deal and high gas prices could inflate that number though.

All in all not a huge number but this obviously doesn't account for potential of future reserves.  If you take RC's forecast from his Oct 15 presentation he believes he can firm up 1000PJ of reserves then, assuming he manages to reach this target, the value of CTP could be $2.30 a share.  Maybe not 'wake me up when it gets to $8' territory but still damn good!  I believe he can achieve this, fingers crossed he does.

https://hotcopper.com.au/threads/a-...63356/page-9?get_post=true&direction=previous

These are all just rough numbers though so as always DYOR.