Based on 37MBBLS - my calculation is based on a value of $16.60/BBL in ground- where currently, POO =$74.40/BBL, A$=.8756$US
The value of $16.60 is based on methods used in Stockanalysis for stock valuation, using deductions for exploration/drilling costs, royalities etc, (but not Production costs etc.) - so could be considered an "in-ground, discovered cost".
On this basis the value of a discovery/share is:
37mmbls x $16.605/brl x MOG share 22.375% / 290.5mil shares = 47cps.
As always, the value of oil to be used in this calc. is open to much debate - either way it would be a good result for MOG Shareholders, as interest in Braveheart wil be enormously increased.
MOG Price at posting:
21.0¢ Sentiment: ST Buy Disclosure: Held
