a quick calc of value cash (post wa351 farmout) 90 million value...

a quick calc of value
cash (post wa351 farmout) 90 million
value of additional free carry of first well 10 million
Todays value of gas contracts 60 million discounted NPV
Existing oil and gas reserves 50 million (very convervative) as I have not added inventory frpm woollybut
value of Zola 70 million (conservative)
Value of remaining Wa351 interest based on 40USD total farm out value price - remaining 20% 32 million usd
value of manora on a boe NPV of 15 120 million
Value of Ghana - my guess at the very least 40 million may likely to be much higher I would expect 30million in cash and free carried at 10% of first well. For the purposes o this excerise I will use 30 million USD
value of all other non core assets up for sale (including brunie)10 million ( may be higher)
total value 480.
480 million base case - could be 520-540 with a few variables adjusted
current market cap 220

share price value at 2 dollars with value of zola valued at 31 cents only to Tap. Zola ofcourse could be worth alot more, so value of Tap as we stand could be worth 220-230 under a no further success scenario.

with approx 45% of revenue coming from fixed AUD gas contracts Tap has cashflow certainty and less impacted by rising AUD. Ofcourse the AUD cash ensures that Manora development costs are less. Got out pre -zola around this level, cant believe i am back in with a Zola discovery on the upside of target and a great farmout adding about 20 million in value to Tap in a couple of months

Now a question that I have for those more expert in valuing LNG gas than me. At 2 TCF of gas, what is the 200BCF worth to to Tap.