RE: Future looks bright. 1p SP30 Sep 2024 12:01
Who are we to argue with SUPER MAJOR Shell , all follow on drills to ch1 given a 100% cos, this is appraisal for production , not a wildcat, ch1 plover reservoir 25m , CH-2 expected to be up to 150m, expect a huge increase in GIIP figures and reserves as AB steers us towards early production and revenues.
Unless he gets a Godfather offer to step aside, win win he then has a war chest, to more rapidly build his as quoted
Asia focused mid tier GAS Company.
Sunrise and Chuditch both Shell originally, Shell thought on full license development, Chuditch probably end up being the larger of the two (Sunda only played with part of the license) Sunrise valued pre gas price boom at $65 BILLION over its predicted 30 year operational life cycle (5 TCF) Shell had Chuditch mapped as 5 tcf with many upside leads.
Woodside hold 34% of Sunrise, currently due to the 22 years ongoing saga, on its books at $0.00c, previously pre Gas price boom on its books at near $400m, marked down yoy to nil about 3 years ago.
If we retain 25-30% of Chuditch (after deals in place) a market value of only £100m does seem a little on the low side.
Timor Leste London Ambassador after the two Andy's visit, made a statement Chuditch worth $10 Billion to TL as it stands on only Sundas limited area dev and 3.5 tcf, TL only held 25% of Chuditch at that time (since farmed up to 40%) making at the time Chuditch rated at over $40 BILLION (with much upside to come)
Even Yeo ho ho and co, the gone and gladly forgotten ex BOD , had a target price for Chuditch of 3 to 4p (whole P) in value to the company. After his last financial fcuk wittery placing, diluted that would still be 1.5 - 2p range.