While fundamentals appear to have been totally forgotten in the current worldwide stock market thought I`d look at Sidi dhaher on its own and adx. On my back of the envelop calculations adx needs approx 8 million barrells of oil (in total) plus gas in sidi to justify their current valuation. This gives its other assets and the potentional of the acerage in tunsia nil value. This is my in ground calculation. The fact it could be high quality oil next to pipelines with good porosity will add to value.
I`m not an analysist but adx estimated 44 million barrells. Xstate has in the past stated their may be 300 million barrells in the chorbane acreage.
Happy to hear from others on valuation
ADX may be forced to say something now that xstate and Vil have announced.
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