Edison report from 202023 Sep 2021 08:45
"Changes to our valuation are driven by rolling forward our NAV and updating Lancaster EPS FY19 performance. We have also updated our short-term Brent price expectations, which are based on EIA forecasts. Our long-term (2022 onwards) Brent assumption remains at $70/bbl. Our risked valuation stands at 109.9p/share, or 35.2p/share excluding any value beyond Lancaster EPS."
We know that Lancaster is now producing 60% of the 2019 output, but 60% of 35p is way higher than 3.1p. There is a massive room for improvement in the share price terms.