few very simple calcs
9.5 sales - 3.5 costs = 6m
after tax 4.2m
enterprise value 62m+ (44.7-8) = 98.7m
return 4.2/98.7= 4.25%
on shareholder equity
4.2/(62-8)=7.77%
to me it is not enough to justify investment atm
however oil businesses are valued on 2P figures so the August review could firm up the value of the company if positive
Ann: June Quarterly Report , page-8
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