RE: RE: RE: Oil went up how much??? CalifDreaming, why do you think you are the expert and come here to tell us what is right or wrong.
I have NEVER claimed MRP should be valued at $10 bbl, another poster did. And disagree with any such valuation.
Agree with Afren per barrel acquisition claims that you made, HOWEVER, I note that their claim of $2 bbl is an OVERALL AVERAGE of their acquisition per barrel costs for EITHER 2P OR 2C, ie, either for Reserves or Resources. That Afren targets < $4bbl for their acquisitions but that has been for both Reserves or Resources.
https://www.afren.com/investor_relations/
I invite you to click on the link. Far righ ton the page under Presentations, (Acquisition and Divestiture Summit Presentation). Go to slide 12. There it states the "Precedent Regional Acquisition" costs are $5.2 bbl and that Afren achieves better and targets their acquisitions at < $4 bbl.
My claim of .75 to $1.25 is based in the following assumptions and all 3 components:
- 54% net profit interest to MRP of a possible 30 mmbbl 2P field (16 mmbbl net) of $5 per barrel = $80 M net to MRP ($5 because of the category 2P) at 200 FD shares = 0.40 per share +
- 54% net profit interest to MRP of 3P of further 20 mmbbl ($2 for the 3P category) (11 mmbbl net) = $22 net to MRP ($2 for the lower 3P category) = 0.10 per share +
- $28 M tax credit past losses = 0.11 per share +
- = 0.61 per share +
- value for 120 % operating and capital cost recovery net for MRP part of the TSB contract (valuation ?)
Hence I enter the 0.75 range, or imo, 0.75 to $1.25 based on valuation conversations with MRP management.
Calif dreaming get lost