TYK (VSE) Tanganyika Oil Message Board

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Gold/Mining/Energy : TYK (VSE) Tanganyika Oil

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To: HotnSpicy who wrote (475)	1/31/2005 3:49:53 PM
From: TheRealJRL	Read Replies (1) of 500

To make your calculations comparable with other oil companies you would have to calculate with TYK getting 100% of the production you have used, i.e. total 9150 (Tishrin:6000+Oudeh:1750+Hana1400) The production from Oudeh and the fields in Egypt will increase during the next 12 months as well, but just for an example we'll use your numbers. US$242MM Market Cap/9150 bpd=US$26.44 per flowing boe. But this calculation is of almost no importance since Tanganyika is mainly a exploration company and should be valued on it's reservers. Since there is a quite small production the value per barrel could only be set to $3-$4 but this still gives a justified minimum market cap of 540 MUSD or $13.5 per share. This is approximately what TYK would get if they sold there Syrian fields today. As at November 30, 2004, TYKs total assets were $54,456,000 and they had total liabilities of $5,727,000. tanganyikaoil.com Regards,

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