10p, page-31

Mandurah,

your numbers are incorrect. It's not 444 mill in revenue. It is around 3.7 BILLION in revenue.

Here is how:

Reserves figures (2C) is 495 BCF and 83 MMBO gross, OEX interest is now 30% not 45% = 149 BCF and 25 MMBO.

Gas is being sold at 8 $/mcf which is the same as $8MM / BCF. This equals 1.2 BILLION $.

Oil is sold at $100/bbl, so 25 MMBO is worth 2.5 BILLION $

this of course is in ground value. If you use 10-20% of that As the NPV which I think is conservative for onshore operations then you get a NPV of $370-740 MM, or a share price of 60c - $1.20.