RE: Sansanof-1 & KINGSBURGH23 May 2022 23:13
A reminder:
Interesting re-post from Phoebus...
TRP $9.7M cap targeting 6.0 MMBOE net risked.
CLON $15.6M cap targeting 44.0 MMBOE net risked.
TRP has a negative net current asset position, no farm out concluded and no funds to drill, but is valued on 4.5 x the multiple of CLON.
DELT $44.5M cap targeting 8.5 MMBOE net risked.
CLON $15.6M cap targeting 44.0 MMBOE net risked.
ECO $213.4M cap targeted 23.5 MMBOE net risked at Joe/Jethro.
CLON $15.6M cap targeting 44.0 MMBOE net risked.
Oil and gas prices are significantly higher than when Joe and Jethro were drilled, yet ECO was valued on 26 x the multiple of CLON. Doesn't add up does it.
Well guess what it is now even cheaper at £10M.
Let the re-rate begin.