What 2P reserves are you guys expecting for SM71 in the Sept Qtr Collarini reserves update ?
The latest estimate I've seen is from the K1 broker report commissioned by OEL. I assume he based his estimated reserves on info from OEL.
In his valuation summary he's estimating 4.4mmbls 2P reserves net to OEL on a Net Revenue Interest Basis.
That of course is the same for BYE's equal share in SM71
With BYE closing at 45cps today, equal to $308m market cap, it's trading at around A$70/brl for forecast post update 2P reserves.
OEL closed at 6cps, equal to $92m market cap and trades at A$21/brl of forecast 2P reserves.
OEL has an equal share of VR232 (or SM74) and a larger share of Biv Peak which seem the most likely drilling targets in the next 12-18 months, along with any stepouts in SM71
We're scratching our heads on the OEL thread as to why BYE has a market cap 3X OEL, or $200 million more ?
I can see a case for BYE to trade at a modest premium to OEL, due to in-house expertise and tighter register, but $200 million higher ??
SM71 expected 2P reserves ?
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6.6¢ |
Change
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Mkt cap ! $71.2M | |||
| Open | High | Low | Value | Volume |
| 6.4¢ | 6.6¢ | 5.8¢ | $48.49K | 760.7K |
Buyers (Bids)
| No. | Vol. | Price($) |
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| 1 | 9250 | 5.8¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
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| 6.9¢ | 14000 | 1 |
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| Last trade - 14.44pm 26/04/2024 (20 minute delay) ? |
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5.8¢ |
Change
0.002 ( 1.69 %) |
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| Open | High | Low | Volume | ||
| 5.8¢ | 5.8¢ | 5.8¢ | 25206 | ||
| Last updated 10.34am 26/04/2024 ? | |||||
| BYE (ASX) Chart |