RE:RE:Sold out!Acquisition prices must be viewed in the context of the market.
For example, TransGlobe has 18.5 m barrels in its PDP reserves, with NPV10 of $161 million.
Yet, its market cap is less than $43 million.
I doubt that anyone will pay 1.1 times its PDP for those reserves..
But, Valeura is.
There aren't many buyers floating in hard cash these days, so it's a buyers market..