Kosy,
In a success case I think that it would be fair to start with the recoverable oil in the ground and value it at say $15 per bbl.
It would then be fair enough to apply a 1.2 multiple to that value based on - de-risking the surrounding area and the increased funding options that sitting on a major discovery would bring when considering the remaining blocks.
That is my opinion but what the market values it at...???
Roughing it out and staying conservative - 500mm bbl x $15/bbl x 0.5(RF) x 33%(equity) = $1.24 billion
Shares on issue ~1.34 billion(?) so ~90c/share
Apply the 1.2 uplift and get $1.10 per share...
Would make 13.5c look cheap wouldn't it...
p1000
what if?, page-2
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85.0¢ |
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Mkt cap ! $193.8M | |||
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