So what is EPS based on?
If $2.2m then EPS is on 86m shares - 2.5c per share
If $1.7 then EPS is on 86m shares - 1.9c per share
Would that be right? What is the standard PE for oil producers? Even if using 10 we would see a SP of at least 19 or 25c. Based on current SP we are on a PE of 4.8 or 6.3 based on last trade of 12c.
Based on that, really undervalued I think! Wish I had money to buy more!
Ann: Production Update , page-5
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