RE: Valuation v Serica Energy25 Apr 2024 08:22
I'm sorry, but you have been consistently wrong. Your calculations have time and again shown completely wrong numbers.You are also wrong here.
1. I think Enquest has 100-200% more in tax credits. So you are wrong. This is also why Enquest pays less in taxes than Serica.
2. Regarding the reserves, I would say that only about 15 million barrels belong to BP. The rest belongs to Enquest. However, don't forget that the company also has approx. 400 million 2C resources.
Regarding Malasiya, you are completely wrong. Many oil companies in world have PSC and then you mean that all the oil companies have 50% less reserves than they claim they have. You are unfortunately wrong again.
Enquest will make approx. 550 million in both 2024 and 2025 together in free cash flow. Calculated for oil at about USD 90 per barrel.