Valuation of Ithaca in a takeoevr situation Correct me if I am wrong but my valuation is based on those facts
Actual production 5000 barils/day X $ 65 K = 325 M
Futur production (in 3 months max) minus CAPEX : 5000 barils/days X 55 K = 275 M
Furtur production (in 18 months max) minus CAPEX :5000 barils X 30 K = 150 M
Futur production ( in 24 months max) minus CAPEX :7500 barils/days X 20 K= 150 M
Reserve 2P ???? = 50 M to 100 M
Tax losses = 50 M or more
Cash on hand = 100 M to 150 M
Good Management + Boat ??? = 50 M to 100 M
Total value for IAE : roughly 1,2 B + 300 M (25% Takeover Premium)
Number of share 260 M + options 30 M = 290 M (roughly 300M)
Value per share: $ 4 + $1 (takeover premium) = $ 5