What I read in one of the articles is that RC could firm up to 307PJ (I think was just Mereenie but may also include the other current producing fields) which would result in an increase in Revenue of $60M annually over the life of just these assets.
Simple valuation is
1. at minimum 5* earnings brings the market cap to $300m
2. multiple of a further (and this is very conservative) of 2.5 for other major assets and GSA deals etc etc further brings us to $750M
3. Less $90M debt and therefore reasonable Present value is $660M
Therefore offer price point for takeover is $1.40
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