Silaro has 230million cubic meters of 1P reserves.
Lets assume half get sold, remember most of the capital costs are already sunk into the field.
130million x .31 Euros per cubic meter x 1.39 AU/EU = $55million revenue - 30% due to costs = ~$38million profit - $10AU million debt = ~$28 million
If the whole 230 million cubic meters is produced = $110million revenue - 30% production costs = $76million profit - $AU10 debt = $66million
Can't be bother NPVing it. The point is that even if no value is attributed to all the other tenements, including the one recently acquired after a legal battle, the revenue and rough profit figures are greater than current market cap, which is currently $28 million.
We can moan about the mistakes, but I think this illustrates, albeit roughly, the the current price is either a good floor, or undervalued. Nice cash flows coming through soon, which the market always likes.
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