Originally posted by spinefx
kingkhan, I'll not bother to read your post again as it's of no value to me.
Not sure if you're familiar with the Oil Search deal with Armstrong but it's the best case we have to attempt to apply value. I've attached the Oil Search presentation below, incase you have not read it.
After Armstrong had drilled 19 exploration wells (12 vertical + 7 sidetracks), the deal was done. The value of which depending on who's numbers you use,
"Acquisition cost to OSH of ~US$3.1/bbl based on OSH’s estimate of discovered resource or ~US$1.3/bbl based on Repsol’s estimate(1)"
However, we do not know what we do not know. I'll stick with my guess though, you haven't done enough to persuade me.
Cheers
View attachment 1384429
Originally posted by spinefx
kingkhan, I'll not bother to read your post again as it's of no value to me.
Not sure if you're familiar with the Oil Search deal with Armstrong but it's the best case we have to attempt to apply value. I've attached the Oil Search presentation below, incase you have not read it.
After Armstrong had drilled 19 exploration wells (12 vertical + 7 sidetracks), the deal was done. The value of which depending on who's numbers you use,
"Acquisition cost to OSH of ~US$3.1/bbl based on OSH’s estimate of discovered resource or ~US$1.3/bbl based on Repsol’s estimate(1)"
However, we do not know what we do not know. I'll stick with my guess though, you haven't done enough to persuade me.
Cheers
View attachment 1384429
I will not involve in any arguments, and let the market to decide but I still stand on my stance for $5-10 per barrel ground of oil for onshore discovery. Also, CVN market cap is over $400m for only 30 mbbls of oil and then 88E was valued over $300m on icewine unconventional oil discovery. even at $3/barrel, RMP will worth $300m (US$) = 17x from current valuation. Let the market to value, if they hit oil; which I am confident they will. No a single well miss to find oil since 2013 (from RMP presentation). 6/6 for CP, 19/19 for Repsol/Armstrong. According to Dave Wall, 29 out 30 hit oil since 2013 using 3D.
