re: Ann: ORIGIN ENERGY LIMITED PEL 514 GAS FA... I feel the real question is (pending my logical assumption re: ORG accepting 10% deep for from PGS $16M participation)
Is PGS @ 2.2c = $11.7M mkt cap over or undervalued ?
- holding $4M+ cash
- retaining 20% of all Oil discovered in PEL 514 being $45M free carried + bonuses
- possibly 10% of all Gas discovered in PEL 514 assumed free carried for total $80M (pending this is the participation deal struck)
= Enterprise Value of approx $7.7M at today's close
My thoughts are that the overall package is worth a little more (all being confirmed of course ie deeps participation $ detail) & no doubt driven higher by a future discovery.
Although, it does look like PEL 514 does have some decent targets( refer to SXY announcement 10/12/13 "More than 450 oil and gas leads and prospects generated in Senex Cooper-Eromanga Basin permits")
I assume this may have attracted ORG....
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$10.90 |
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Mkt cap ! $17.27B | |||
| Open | High | Low | Value | Volume |
| $10.85 | $11.00 | $10.79 | $33.44M | 3.070M |
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| No. | Vol. | Price($) |
|---|---|---|
| 2 | 5917 | $10.89 |
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| Price($) | Vol. | No. |
|---|---|---|
| $10.90 | 4067 | 1 |
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