Ann: Sugarloaf Operational Update , page-42

Using ADI as a price guide to the value of that 10%, about half the current price reflects S/L and half the much larger net acreage in Longhorn and Ipanema. Hilcorp are committed to drilling 4 new wells in that other acreage. I'd have thought that AUT would continue to track ADI until Hilcorp mobilises a rig for (possibly) Longhorn. Then we could see some upward dislocation. If Longhorn & Ipanema are as good (no idea) the arithmetic suggests a price 4x ADI. That's quite a lot of upside to hope for.