Look at Evercore's initial valuation for GULTU based on estimated production/revenue for the life of the trust, now compare that with updated figures of production. both expected output and prices realized are exceeding original figures
Listen to EXXI's Credit Suisse presentation for updated expectations on Highlander. There aren't too many variables involved in valuing this thing, so the last thing Im gonna do is disclose them on the internet. Obviously if one well covers initial projections, then the other two scheduled for completion this year are icing on the cake.
I value gultu at roughly 3.19 with a 10% discount rate. Any upsides in production or nat gas price increase value. The reason why gultu has increased in price is that Highlander looks to match initial production estimates (based on evercore's initial valuation) all on its own
EXXI's oil per barrel dropped $10. Key is production came online from new well just this week, which translates into over $30mm/year. They will be drilling 6 more wells this next six months and nat gas is $5. Bad numbers wise but future looks much brighter.