Ann: Acrasia 5 Development Well - Progress Report, page-4

re: Ann: Acrasia 5 Development Well - Progres... The stock market can clearly by strange sometimes.

Your calcs are correct, and better!

The Company may have been a bit premature in stating they will miss their target of 350,000 Barrels of oil. Based on the numbers to date they will get over 210,000 barrels from Acrasia between now and fin year end, they will get ~80-110 thousand from W7. Thats 24 mill + in revenue alone.

All your points are correct, however current PE is a bit oversold IMV. Last years profit from recollection was as more due to some asset sales than ogoing business / production. However future PE would be way too low!!