RE: VST, NKO, GSA & KRG - VENMan
Your valuation of GSA is flawed...
VST paid 60 million shares for 10% of BM
60 million x .70 = $42 million or $4.2 million for each percentage point.
GSA has 6% of BM so 6 x $4.2 million = $25.2 million, and that was before the reserves report of 2.7 billion bbls.
Even if you value the 2.7 B bbls at just $1, then 6% of $2.7B = $162,000,000 or $2.38 for each GSA share. So if you assign a value of $7 per bbl, then GSA is worth about $15 per share...
And that ignores any valuation for their WKO block in Egypt, which they have 60% interest and are the operators, and their interest in Guyana, for which they need spend any additional funds. There was a discovery in sweet crude there in 1982 that was abandoned by Home oil... a half billion barrels was too small at that time.
By my estimation, GSA is WAY UNDERVALUED!!!!