Ann: Preliminary Final Report , page-10

Hi Gk,
I'm not too sure how you value shares as everyone has a different way i.e. FA, TA etc.
The book value or net tangible assets is what you get when you sell all the assets, pay off the debt and devide the value by the outstanding share and options etc.

If AMU are increasing the life of the wells and redeveloping wells then the company will get an increase in revenue. The statement in the accounts said that they has corporate interest in their assets but they didn't think it reflected the true value, this means that they expect and increase in production and if AMU issue dividends then this will send the share price upwards.
The company has certain risks i.e. oil price, exchange rate risk etc. Think of it this way, if the company gets more income then it will start distributing out to the share holders.
This company is very undervalued but I think the main problem here is the management but they have a hard job with limited resources.

I think the value of the share when you factor in earnings growth would be over $0.40 cent but this would need confidence in mgt and other factors to into place.