I had a quick look at AWE's report, the Waitsia (AWE 50% and BPT 50%) is the main asset. Their current production just earn them around $20-25m a year after Opex (before other costs). With the debt, capex, they run a small negative cash flow. Please correct me if I over looked anywhere.
So with the $600m price that Mitsui is willing to pay for AWE, I would say Mitsui is willing to pay $500m for the Waitsia gas. BPT 1.5bn acquisition is a good deal. I hope to see more details on the quarterly tomorrow. Hopefully they now can update the previous quarter cash flow including the acquired business. I am still stand at $200-300m free cash flow per year.
valuation if Beach veraus Oil Search, page-11
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$1.27 |
Change
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Mkt cap ! $2.897B | |||
| Open | High | Low | Value | Volume |
| $1.29 | $1.30 | $1.26 | $9.725M | 7.622M |
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| No. | Vol. | Price($) |
|---|---|---|
| 6 | 135823 | $1.27 |
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| Price($) | Vol. | No. |
|---|---|---|
| $1.28 | 50000 | 2 |
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