RE: Chuditch valued between US$190MIL - US$683MIL. Takeover bid seems on. Fair share price target 10x from here at 0.595p4 Apr 2024 09:50
The outgoing ceo (presentation) had a target of Chuditch being worth 1.7p to 3.7p per share to the company based on a series of at the time operational factors. After the latest dilution that still comes out at 1p - 2p
Our old bod snail paced catch up has Chuditch 3.5 tcf / 595 Million boe versus SHELLS original whole license mapping of over 5 tcf / 850 Million boe with more upside.
Take either set of figures and our MC is pathetic for such volumes. As it has been since day one, the key factor here has always been the local politics, not the asset, without a TL approved route to market (Said no to all in the past) or building what they have promised their people for over 20 years.
Our gas like Woodside Sunrise , viewed as worthless, Woodside had its 34% of Sunrise on its books for hundreds of millions , then due to force majure , impasse, boundary disputes under the JPDA, marked it down year on year until a few years ago , on the books at $0.00c
Sunrise valued at 2021 oil and gas conference at $65-$70 BILLION over an expected 30 year life cycle, on Woodside books at $0.00c for a few years now. 2021 pre gas price boom also.
That local political impasse and zero movement deadlock landscape is NOW CHANGING, both parties looking to make a processing path decision by this summer.
Now if they do and Woodside marks Sunrise back on its books from worthless $0.00c to the former hundreds of millions it once was, that London can continue to justify a valuation of Boil/Chuditch at the price of a Sherbet dip per boe
We have multiple breakout catalysts and most of them involve , not what the company does but what happens locally.
Said for 4 years NOTHING to see here until , local changes occur, I have said for the past few months, that change is very much HAPPENING NOW............
Our day is coming..........GLALTH