RE:RE:RE:explode the ignorant poster
It really depends on what the drill bit does. If the Kraken turns out to be a massive grandslam we could be talking about a 5 or 10 billion dollar valuation easy. Paul Bay said Cascadura was worth 380 million dollars prior to Cascadura Deep. Chinook isn't as deep (as far as we know) but it takes up a much larger area. Royston has huge potential but is it commercial? Does anyone know anything about Steelhead? I think 1 billion dollar valuation is a reasonable guess for Coho, Chinook and Royston if they top off around 420 mcf/day, 4000 bopd and there is nothing else here. If everything goes as planned we should know a lot about Kraken in 24 months - if it's commercial we should be north of 2 Billion heading towards 5 Billion . A 2 billion dollar value would mean 9.56 usd or around 7 gbp. Can it be 4 billion? Absolutely, if Kraken is commercial and we know the flow rates, maybe that much more. What I like so much about this play is how for 5 or 6 million they can discover a $200m-$1000m play. You only have to be right one in 20 times and still manage to make money. The fact is that you can buy in today for less than the private transaction value of Cascadura and get Chinook, Royston, Coho, Steelhead, 20+ prospects makes it a very high reward, low risk type of investment that I like. Unless you are planning on selling your shares this week, you really shouldn't care what Mr. Market is selling at. If you are not already overweight, it's just another opportunity to put money to work at an attractive risk/reward. And if you are, like Mae West... 'Too much of a good thing can be.... wonderful!'