When Black Marlin was acquired by Afren in 2010 in a scrip deal worth 110 million it's Seychelles acreage ( now WHL Energys) was valued at 33 to 44 million dollars.
Since then we have spent 7 million on seismic to prove up the leads into prospects totaling 5.8 billion barrels + potential ???tcf of gas?
Given the additional focus on East Africa, the price of oil, (2012 compared to 2010)and more importantly, find another acreage like ours ! A current sale price/ mkt cap of 100 million is entirely within the realms of possibility.
Values are liquid - look at cove, 1.6 billion became 2.1 billion before the dust settled. Were shell light a lazy half a billion? If someone wants something enough , well, pay pay pay!
My 2 cents Worth anyway Sandy, good thread.
Cheers
Add to My Watchlist
What is My Watchlist?
