PE quoted as 3.3 at the moment .
Market cap $430 million
Cash in bank $66 million
Value of NXS stake $106 million (11.6%)
3200 bopd extra (AZA equity in the new sidetrack) @ $100 per barrel = $320,000 additional per day, or $28.8 million extra per quarter, or $115 million extra per year .
The new sidetrack production in addition to the existing flows will put AZA on a prospective PE of near to 1.5 .
IMO, the two Japanese companies wth stakes in the BMG projects could be potential players now .
Take out cash and NXS equity and the underlying market cap is only $258 million .
10% of BMG was recently sold for $123 million by BPT so
AZA shareprice atm currently reflects only 20% of BMG project .
Super value . I'm in .
AZA
anzon australia limited
