Rough estimate of cash navSo far , we know that a $85 million US offer was made and rejected for one of the 25 % parcels in block 5 and that Norval stated that a bid above $110 million was made for the producing estimates in Canada.
SNG owes $60 million US for block 5 and $37 million to CWB , and is owed $47 million US by CHQ.
Using a 1.25 exchange rate, 45 % of block 5 owned by SNG would be valued at $190 million , add $110 million for the Canadian assets , plus $59 million due from CHQ , less $75 million owed for block 5 less $37 million for CWB, SNG would be left with about $245 million in cash, no debt , no production , but with the remainder of its 3 development projects .
Bottom line is about $1.60 per share in hard cash and no debt at the end of it all.