GL15 Apr 2018 08:19
I personally don't think your option A is viable as funding will only be secured on successful applications on the 30th round.
Your option B, I think will see the Mcap be around � 105M or circa �2.86 per share.
But I am here for H2 2019, read the company presentation (page 7), and those figures were quoted with brent at $53 barrel. With Brent looking to breach $80 this H1 2018 and possibly $100 end H2, it would be fair to say you can double the amounts quoted at least as operational and recovery costs will not rise but the profits will.
I think the $200m funding will be used on upto 4 wells, thus giving us high flow rates and generate a very healthy cash flow, which is vital.
There are still a lot of, "ifs" here, so Iet's see what is forthcoming in the 30th round decision before trying to calculate the Mcap H2 2019.But again see page 7 of the investment documentation. The clues are all there...
And 1 thing I agree with you on, I wouldn't like to be out of i3e this weekend, but I'll expand on that and say I wouldn't like to be out of it at all until at least H2 2019 or even longer due to more wells and the high cost of brent.
I am sure we all have an idea of the worth of this and a target price, assuming no further dilution, and a stable oil price, and no wars in the middle east.
GLA