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0.3¢ australian oil company limited.

NPV $400 million and growing?, page-3

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Adamark

151 Posts.

01/07/14

19:11

Post #: 13596781
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Originally posted by redrun ↑

Was just wondering what a current 2P reserves evaluation of our current Snake River project would come in at.
Was doing some quick calcs and assuming the recent acquisitions are analagous to the rest of the acreage, I get around $397 million, given year end 2013 report based on 5500 acres gave us $260 million (we now have 8400 acres).
Also note that the price of oil in that report was given assumed as $96 a barrel for 2014 and $88 a barrel for 2015 etc. Given the current price of WTI of around $105 I wouldn't be surprised if it would be even higher.
So with a current market cap of just over $100 mill (fully diluted probably around $150 mill) rapidly growing production and a healthy balance sheet Austex is definitely my top pick at the moment.
Was also wondering about year end production. I think we could easily achieve over 2500 boepd funded purely from current cash at bank and cash flows (even more with an RBL facility and a subsequent ramp up), but might get into that in another post.

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Hi Redrun

I agree with a lot of your ideas and calcs in your post. I also think a 2014 CY exit daily BOE production of circa 2,500 is also achievable and would like to see the share price much closer to 40-50c as we head into CY 2015 with more growth and cashflow building.

AOK Price at posting: 19.5¢ Sentiment: Buy Disclosure: Held
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0 Great analysis

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