Ann: OPHIR OIL DEVELOPMENT PROGRESS UPDATED PRESENTATION, page-3

Round figures, 6M barrels, at USD50 per barrel $300M minus capex of 75-90M minus opex (no idea - 5/10/15 per barrel? 30/60/90M?) works out to somewhere between 120M and 195M for the project value, but remember OXX own 50% of  the RSC not 50% of the field.  From what I've managed to glean from the OXX announcements I have no idea what the RSC is worth to OXX.

Here's an extract from the 12 Jun 2014 announcement (which, BTW, claimed first oil in 18 months.  31 months later we have another 6 months to go...)

Under the terms of the RSC, the Contractor is the service provider and Operator of
the field, while PETRONAS is the resource owner. Upfront investment of capital is
contributed by the Contractor, with the Contractor compensated via the reimbursement of
costs plus a remuneration fee for services rendered. The remuneration fee is linked to
production volumes as well as certain key performance indicators.

We're a bit like a service station - instead of being paid to pump it from tanks and deliver it to the customer, we're being paid to pump it out the ground and deliver it to the customer.  When you can tell me what our margin is under that contract, I'll tell you whether I think it's worth 10c or not.  However, someone thinks it's worth 10c, because that's what they're asking for on the market.

My holding is worth SFA after missing out on the NZ drill being non commercial.