CPR rns12 Aug 2020 10:52
The report reports the net present value of the above reserves, but not the contingent resources, which it defines as the gas and condensate sales revenue minus the grid connection costs, capital expenditure, operating expenditure, taxation and abandonment cost, and adjusted for the time value of money. The resulting mean value of the reserves to Angus shareholders, which is also the central case, is just over £25 million, with a high case of £35 million and a low case of £16.7 million.
In terms of the price per issued Angus share these low, mid and high NPV cases are therefore estimated by the Company to be worth respectively 2.9 pence, 4.4 pence and 6.1 pence per share.