Nice Reserves Report and F&D JMO (Opinion only)
NPV (10%) of P + 1/2 P reserves is CDN$180.8M, ignoring undev land value.
Last reported debt CDN$124.8M.
Difference from above is $CDN$56M
FD share count is 171M shares.
Math suggests $0.32 share.
Do your own DD. Good F&D too.
"Including technical revisions, overall PDP, 1P and 2P finding & development (“F&D”)
(1) costs for 2021 were $9.53/boe, $12.59/boe and $7.34/boe, respectively."
Notes:
| Reserves Category | 0% | 5% | 10% | 15% | 20% |
| (MM$) | (MM$) | (MM$) | (MM$) | (MM$) |
| Proved | | | | | |
| Developed Producing | (17.8) | 92.9 | 106.2 | 102.1 | 95.0 |
| Developed Non-Producing | 65.4 | 32.6 | 17.6 | 9.6 | 4.9 |
| Undeveloped | 207.0 | 152.4 | 114.0 | 86.5 | 66.5 |
| Total Proved | 254.5 | 277.9 | 237.7 | 198.2 | 166.4 |
| Probable | 313.4 | 227.1 | 176.5 | 143.5 | 120.5 |
| Total Proved plus Probable | 568.0 | 505.1 | 414.2 | 341.6 | 286.8 |