Chevron invested $25 billion to acquire 50% of a license close to COD for 6300km2 where cod has 100% of a 172km2 area...
"In fact, while our junior company bought into Ukraine way back in 2007, it was only halfway through 2013 that Chevron put US $25 billion down to acquire just a 50% interest in a licence nearby...
"These local relationships were a significant factor in COD acquiring a 20-year term, 100% interest in a 172 km2 gas and oil field known as the Limnytska license"
So going on that...
6300/172= 36.63
$25 billion/36.63 = $682,500,682
Then theoretically our permit should be worth $682 million...
COD is in a remarkable situation where they can farm out a small proportion of their stake and receive a significant deal... Win win at this timy market cap at the moment...
COD Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
