Just looking at a broker report about CVN and they state
"We look to the nearest peer in FAR as a relevant comparison, noting that the market ascribes A$9/bbl for its net (post Govt carry) 2C discovered 70mmbbls contingent resource;"
So if the 2C is 640mmbbls and our post Govt carry is 13.7% gives us 87.68mmbbls (must be using CNE 2C) which gives a MC range of $630m to $789m or 12c to 15c hence the support at 12c
So if Samo hits oil of 825mmbbls 2C and I think the governments get 20% means we end up with 32% of the total being 264mmbbls adding to the MC by an additional $2,376m or 45c per share
Then you use the same for the additional 35% gives FAR between 178mmbbls and 205mmbbls or $1,602m to $1,805m less 600m (including cost) to our good friend at WPL and we end up with $1,002m to $1,250m being 19 cents to 23 cents per share
So someone has looked at FAR and used its MC to workout the price per 2C barrow of oil and I have then used that to work back to the current SP (genius!) and then assigned the same value to other assets: sounds fair if the current SP/MC puts a zero value on PE and Samo.
Anyway Samo and PE are just pipe dreams!
Back to reality once you take the risk of SNE into account you cannot justify a price over 12cents which is the same price as my current order for 100K shares.
So lets stop overpaying for FAR.
DYOR
Zip OFL
The Next CVN, page-18
-
- There are more pages in this discussion • 53 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add FAR (ASX) to my watchlist
|
|||||
Last
47.0¢ |
Change
0.010(2.17%) |
Mkt cap ! $43.43M |
Open | High | Low | Value | Volume |
45.0¢ | 47.5¢ | 45.0¢ | $74.80K | 161.8K |
Buyers (Bids)
No. | Vol. | Price($) |
---|---|---|
1 | 100 | 46.5¢ |
Sellers (Offers)
Price($) | Vol. | No. |
---|---|---|
47.5¢ | 26333 | 2 |
View Market Depth
No. | Vol. | Price($) |
---|---|---|
3 | 96562 | 0.455 |
3 | 82855 | 0.450 |
1 | 50000 | 0.445 |
1 | 50000 | 0.440 |
1 | 50000 | 0.425 |
Price($) | Vol. | No. |
---|---|---|
0.475 | 26333 | 2 |
0.500 | 10000 | 1 |
0.510 | 220895 | 4 |
0.515 | 103300 | 2 |
0.520 | 421965 | 4 |
Last trade - 15.58pm 12/09/2024 (20 minute delay) ? |
Featured News
FAR (ASX) Chart |