"That would result in approx 190 000 000 * US$100 = US$1.9...

"That would result in approx 190 000 000 * US$100 = US$1.9 Billion."

Often $10/barrel or so is used in valuations. As I understand it, that is a net present value figure which takes into account the time cost of money and probably the various risks as well.

However the fiscal terms in Morocco are particularly favourable so $20 is often used in broker reports. Using that instead gives a figure of around 400 million or about 8 times TPTs market cap.