RE: amtech31 May 2018 15:49
In the full year results exploration and evaluation costs are stated as been $48m so where the $100m comes from I don�t know. So it�s a $48m intangible assets in the books but just because it�s valued on the books at that doesn�t mean it is that value. Even if they sold the licence it doesn�t mean they�d recover the $48m evaluation costs. Even so to create a market cap out of exploration costs and a perceived value of that data is not how it works. Every oil company going would do a few tests on a licence area, say there�s a chance of oil in that trap, multiply exploration by 12 then just sell it on.