I wouldn't be suprised to see it trade a little higher than high 20s, in my dealings the oil shares in aus almost alway trade at a discount to proved reserve. With the low risk associated with AOK as well as great margins I can see it trading above its peers with comparable production. 217m is P1 & a rough peer comparison would suggest around 100m mc. I'm cutting the difference, I think it'll probably be around the 160m mc mark. Which would be around 34c .... The recent support at 17c for me suggests this also as AOK has a history of doubling up on its trends (ie. 6.5c to 13c a few years back and 10c to 20c late last year/early this year)
Just a stab in the dark
DYOR
akap
AOK Price at posting:
18.5¢ Sentiment: Buy Disclosure: Held
