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Terms and Abbreviations

A new page for subscribers to clarify some of the terms and abbreviations used by StockAnalysis as explained here by Peter Strachan.

Base value is my estimate of the value for known reserves of hydrocarbons (or other commodities), net cash and any investments, basically my judgement of a company’s asset value or its net assessed value.
 
Risk adjusted exploration value is a value ascribed to a company’s exploration interests, where no resources or reserves have been outlined, based on the probability of success, while a company’s risk adjusted value is the total of its base value and risk adjusted exploration value.
 
Target price is my best estimate of where the market will take a share price, based on my knowledge of its base and risk adjusted values and what I think the market is likely to pay for that risk and also includes on my understanding of the historical share price chart.
 
CY = Calendar Year
 
FY = Financial year
 
mmBOE = million barrels of oil equivalent
 
1 BOE = 6,000 cubic feet of gas
 
NPV = net present value
 
BOEPD = barrels of oil equivalent per day
 
EV = Enterprise Value (market capitalisation plus net debt)