waugh-1 well in the north perth basin , page-15

The value of our shale acreage will in time be proven to be very very valuable. It comes as no suprise to me that the majors will come snooping.

In terms of Waugh-1 which is coming up...5 million barrels.
50% at an NPV of $20/bl gives us a value of $50million... now thats not something to be scoffed at.

At a market cap of 5million, with 3.5million in the bank, Waugh-1 coming up and the quality and size of our canning basin shale acreage, this is a gift!