RPM 3.70% 13.0¢ rpm automotive group limited

gindara value and leverage

  1. opt
    193 Posts.
    I posted this per request on NDO and I'm posting it here for any that may be interested.

    Gindara value and leverage vs NDO

    Assumptions:
    US$/A$ = 0.60
    NPV/bbl = US$ 14
    Success case
    Gindara OOIP 472 mmbbl
    Rec Factor 30%

    NDO WI% = 30%
    KIK WI% = 20%

    NDO shares(diluted) = 1,210 million
    KIK shares(diluted) = 680 million

    Value per share:
    NDO = 0.82
    KIK = $0.97

    Leverage on current share price:
    NDO(0.09)= 9.1x
    KIK(0.05)= 19.5x

    Note that the KIK Gindara leverage rises to 24x if the listed options are not excercised by Dec 31,2008.

    KIK have another angle with the ADX JV. There is some potential farm-in action on the Itialian/Tunisian permits in the next six months. Drill ready prospects could see work during 2009.

    Everything crossed for some good news at the AGM next week. I don't want to see the oppies passed in.

    avagoodweekend,

    opt



    Regards,

    opt
 
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