Byron is going to perforate the hydrocarbon bearing sand lobes in the f40 sands where they have previously intersected combined net pay of 25 metres .The auditors collarini have said that this area should contain 350 ,000 barrels of oil (normally the auditors are very conservative in their estimates ).Based on the oil price being $60 a barrel us ($78 dollars Australian) the revenue should be approximately $27 million not bad for a company who capitalisation is $44 million .Based on the above and that this is only the tip of the iceberg with all the other prospects this company appears to be extremely cheap
BYE Price at posting:
25.5¢ Sentiment: Buy Disclosure: Held
