I'm out and about at the moment but crunching the numbers gives ;1 an agreed RPS worst case reserves at TGT figure of c. 49m at a c. 30 % recovery factor on 466m plus 53m of STOIP. At $20 dollars a barrel that gives a lowest possible value on TGT alone of circa 1 billion USD2 an upper case on RPS numbers of c. 122 m barrels recoverable at 35% recovery rates across 958m + 152m STOIP, worth c €2.5 billion3 using management guidance of at least 50% recovery rates gives c. 175m barrels , at $20 per barrel that gives a $3.5 billion valuation ...all this for TGT alone!CNV has always been discussed as circa 50 percent of the size of TGT , though further upside at the latter may skew this relativity going forward.From memory the whole of Vietnam had booked reserves of c 120m barrels?My money is on a substantial reserves upgrade this year.I hold and view a deal is likely this year at a major premium to today's share price.Cheers
From memory the whole of Vietnam had booked reserves of c 120m barrels?Yes, that's contained in my memory as well.However, if there's such a wide range of uncertainty about TGT and CNV still looks a bit like a pig in a poke (though there is undoubtedly something there), where did the 120m booked reserves come from?
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