Great post. A must read!
Regarding the WPL PE issue just to add.
Using CNE 12.50 @ 70 oil.
(0.3196 x 641M) x $US12.50 = $US2.561B - .450 = 2.111B @ $70 US
@55 interpolating
(2.561-1.331)=1.23/4+1.331=1.6385 - .45 = 1.1885 B USD.
You used about .88 for the US/AUD exchange.
1.1885/.88 = 1.350B AUD
1.350/5.462 = .25cps
This with Petrosen backing in which they might not do. Will be few adjustments.
But then when you were talking about FAR you suggested doubling.
Leave out cash A2/A5 etc etc.
Let's use 850 say 25%. Then we are up to over 31cps.
Whoever was suggesting that PE isn't a big deal. It's a complete game changer.
Why Far is Undervalued., page-77
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