STU 0.00% 94.0¢ stuart petroleum limited

stu fundamentals, page-4

  1. 2,834 Posts.
    stuart fundamentals redux At 75 cents a share, Stuart Petroleum is as undervalued now as it was in July 2003, when I originally bought in at 28 cents (check the records on the Aussie Oilers board in Yahoogroups).

    Back then, Stuart had 60 million shares, a 28 cent price, four PELs and 1.2 mmbl in Acracia. The market valued them at $17 million ie A$14 NPV for the oil, with the PELs worth nuthin.

    Right now, Stuart has 60 million shares, a 75 cent price, 4 PELs, 1.2 mmbl in Acracia and 2.4 mmbl in Worrior. The market values them at $45 million ie A$12.50 for the oil, with the PELs worth nuthin.

    As to the values of PELs, note that companies volunteer to do approximately $2m worth of seismic and drilling to get a 25% share in one of the Cooper Basin PELs.

    Worrior coming in at 3.4+ mmbl recoverable - or double the pre-drill estimates - should also increase the value of the PELs, because it shows Cooper Basin wells have upside risk.

    Buy with your ears pinned back.
 
watchlist Created with Sketch. Add STU (ASX) to my watchlist

Currently unlisted public company.

arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.