GREY:STPJF - Post by User
Post by
adamsighton May 10, 2014 10:07am
476 Views
Post# 22547194
sale vs jv
sale vs jvJV Comes to the company and says
We want 45% of McKay and Senlac
Value according to the company is 4.6 billion in 1, 2 and 3p
plus plant cost. 500 million
I myself havent seen much value on 3p (.29 of course)
So taking into account the 2.4 billion for reserves and 500 million plant mckay
125 million for senlac = 3 025 000 000
45% of the value is 1, 361, 000 000
STP Needs
410 million for debt
50 million for step down wells
15 million for senlac
10 million in icds
150 million for phase 2
15 milion for op costs
_____________________
650 million is what they ask for
as there is still risk they give a 50% discount 1, 361, 000 000 /2 = 680m but we'll say 650
What the JV Gets
senlac 3k-3.5k per day
mckay 12k per day + expansion of 6k perday
21k/day X .45 = 9450 bpd + reserves and upside cost adjusted of course.
To me something like this seems likely, it is a fast track for a company to get into the oil sands
at a reduced rate with a team that knows alot.
And as far as our share price, well less debt or debt free we will go up, even with less production, as there is little risk of going out of business. Then there is the potential for the other leases to be jv out.
I chose 45% as no one wants to do 50% less control then becomes an issue
Just some wontan speculation to consider
sale I posted my thoughts before on.