value of artemis for meo

I have seen a few people asking questions regarding what it would be worth if they hit 12 TCF. well the best way to determine this is to convert the volume of gas into a barel of oil equivilant to get an approx value. I have done this.

12 TCF is approx 2,063,238,000 barels of oil equiv. at $80 per barel price, that gives a total value for the project of $165,059,000,000. MEO's 25% share of the project is worth $41,264,000,000. divide this value by the number of shares and you come to an enterprise value per share for MEO of $147!!

Now thats a bit lofty, so work on a mean likely volume (say P90 or 90% probability) of 1 TCF and doing the same calculations you arrive at an enterprise value per share of over $12!

These calculations were done via the Santos website and are really rough, back of the envelope calculations, but do provide a guide to the monsterous upside possible upon any success. obviously this is all meaningless if they have a dry well!!

I dont hold MEO, I hold MOG for much better leverage