Mondiee,I see little point in exagerating the value of what was...

Mondiee,

I see little point in exagerating the value of what was an excellent upgrade.

Please correct me if I have to following incorrect:
*AZA's 62.5% of an extra 7.0 mmbo is 4.38 mmbo.
*Gross sales value at USD 80/bbl (USD 60) ,AUD 350 mm. Possibly optimistic to value at current spot value.
*Allow for say AUD 5/bbl incremental cost for transport etc, AUD 328 mm
*Subtract 40% PRRT, as they''ll never find extra PRRT expenses against extra profit, AUD 197 mm
*Tax at 30%, result, net value AUD 138 mm to AZA.

Then allow a discount for time value of the cash flow, a discount for risk, incl of oil price, and it then becomes difficult to see a lot over AUD 100 mm of value (perhaps less) to AZA shareholders in this upgrade.

Good, but certainly not comparable to the AUD 368 mm capitalisation of AZA at 117 cps.