RE: Uptrend to 0.10-0.15 without news / and 0.20+ with news on JV/drill/funding. Broker note 0.53p right now.22 Apr 2024 10:57
Broker notes are always ultra conservative, back when Rockhopper going to drill Sealion (500mbo) in the Falklands, the brokers note was 89p, on success, it had already risen from 5p to 25p , thought maybe/maybe not to late, went with the gut and it on success , flew to Β£5.72p. (114 bags from the low)
Chuditch by boe + potential upside bigger than 500mbo , take Boil limited figures 3.5 tcf - 595mbo/e or Shells old data of 5 + tcf - 850 mbo/e plus additional leads (like Quokka was bandicoot to add)
The 3.5 tcf presentation to the TL Ambassador in London said just that worth over $10 billion to TL in revenues , T/Gap only owning 25% at that time = over $40 billion 100% rate.
Shell and Conoco after saying leaving for many years, finally did when TL Gov gave a loan of $650m to T/Gap for their combined 56% of Sunrise = $1.2 billion 'ish 100% , similar to what cove got $1.25b for its offshore Mozambique/Tanzania similar sized asset, after a bidding war started by Shell and won by the Thailand NOC
So what is 60% of Chudtich worth (plus quokka other upside) , AB has a strong hand , for a cracking deal.
After being marked down year on year , Woodside finally dropped its value on the books for Sunrise a few years ago, the final chuck dropped off its 34% was dumping another $178m off to $0.00c, use to be several hundred million $
This is the scale of Chuditch , to a new real offshore long term developer. π€ GLALTH