Ann: Preliminary Final Report , page-11

thanks for the response sfsham

i do understand what book value is.

seems to me thats bk.val is a good start to value the stock in the case.

i have spoken to mitchell wells a couple of times before myself and in each case have heard the same story trotted out about re developing their wells. so they have been doing this for the last 18 months but i see nothing with regard increase in value of assetts or earnings.

it occurs to me that it may well be that market feels much the same way about this stock as i do now, and hence its low price compared with the stated bk.value.

with the oil price having more than doubled over the last 2 years you would think this would also reflect in an increased bk. val.

price/bk of 0.78 is still prety good - but in the case of amu is even greater than the average over the last 18 months

if there is oil for 20 years in these wells that are to be redeveloped then why doesn't it reflect in the bk.val. ??

i can see that i am banging on here, so best i leave it all at that.

gk.