Im slightly confused,albeit admittedly i know very little about the oil industry!
If there are proven reserves at eagle of at least 13 million barrels at say 50 dollars a barrel, then isnt that the equivalent of £650 million dollars. Spilt over 15 years production that would equate to roughly 40 million dollars a year, or 20 million pounds a year. If eme has a 38.5% share of this then we are talking 8 million revenue a year for a company valued at only 13 million.
Seems slightly undervalued to me, or are my assumptions just crap? That is without the glantal prospect, of course.
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