one of the most undervalued oil play, page-7

James,

I beg to differ with the pre spud target of 29 cents.
I think it should be alot higher.

Here are some reasons why.

During the previous pre spud oil was trading around $50, that is around 40% lower Vs where it is today.
Also at the same time the ASX was down over 20% Vs where it lies today.

So atleast 30% premium should be placed on the pre spud price.

That takes the target price to around $0.38 for prespud.

DYOR.