Free Cash Flow PTA is making $39 free cash flow per BOEPD
It was produccing 4700 BOEPD net before LM8. So now it should be at 4700 + (0.5x3250) = 6325 BOEPD net
Now $39 x 6325 x 365 = free cash flow per year = $90 MM
NPV 10yr free chash flow at 105 discount rate = $553MM
+ $30MM cash +$37MM cash from dilution - $32MM debt= $588 MM
fully diluted outstanding shares= 957MM
Then $588MM/957MM= 0.61 per share (floor price)...assuming no new discoveries...