RE: Analyst view20 Apr 2023 14:21
75% of 3.5 tcf is 446mboe
They credit us half as recoverable, at a fire sale $1 a barrel = $223m
Cove when gas prices much lower got $1.25 Billion for a similar sized asset
75% of that would be a winner, lol and as said the two majors that left
got $650m for 56% of Sunrise , before Gas price ballooned.
75% will not go cheap, if the BOD wait on a good deal, not a first chancers offer
the cove example , Shell actually made the first bid around 80pps ,the Thailand
NOC won the ensuing bidding war, with £1.25p a share, over 50% higher. Coves
price at the time (after successful drill) was bouncing 18-22p when the time of
the first 80p bid
As said for a long time, only 2 things we need, TL politics sorted and a whale
knocking at the door. GLA