Speaking of risk vs rewards I thought I might re-post the below here since RMP is what I am holding!
Target prospects of 400 mboe for Winx if we say drill hit is successful and take recoverable oil to be 30% of target that is equates to 120mil barrels and RMPs share of circa 30% is 35mil barrels.
Believe a conservative range to value in ground hydrocarbon is around USD$2 to 5 per barrel , so say we take the middle of that is USD$3.5 per barrel @ 35mil barrels gives us a value of around USD$123mil or roughly AUD$170mil valuation off a successful Winx play.
If we look at RMP with market cap of $40mil , our sp could potentially re-rate to circa 30c , but i am happy with anything over 20c!
Exciting times ahead!
RMP Price at posting:
7.9¢ Sentiment: Hold Disclosure: Held
