RE: $ 5 billion Asset Value....for LFDTaxdemico is delusional.
He is the new Maysteeler who repeats absurdities and never recognizes facts. Definition of insane, or pure scumbag promoter?
I caught him adding best estimate reserve numbers for the Jeribe in the field with maximum case numbers for the Jeribe in the other prospects! This was his first attempt at analyzing the new reserve report. Huh?
I pointed out yesterday that his "valuation" is pure fantasy, based on incorrect assumptions about how an oil contract works and pure lunacy of using a $75/bbl value for a barrel of oil. Huh?
I have tried to provide some realistic assessment, which he does not understand.
So, everyone, go to the lfd presentation on their website and look at slide 14 which is an economic summary for the Qara Dagh well. LFD does not provide a similar chart for Chia Surkh, so we have to use the Qara Dagh situation for our interpretation. Confirm for yourself that the chart is a plot of "gross reserves" against Vast's net present value. Vast has a 37% interest at QD and a 40% interest at Chia Surkh, so this is only an approximate comparison.
Explain for yourselves why 277 million gross barrels at Chia Surkh would be worth $5 billion net to lfd, when 700 million gross barrels at Qara Dagh are only worth $1 billion net to Vast??
These are the companies numbers and clearly indicate something is wrong with taxdemico's calculation! The simple truth is that the new reserve report suggests less opportunity at Chia Surkh than was previously imagined.There is still obvious value to be discovered on this block, but nowhere near the absurd predictions which the crazies are trying to promote