If it's a duster my back-of-envelope gives cash of $22.2m (12.7cps) with admin expense being about balanced by interest income.
This assumes no value is given to Leighton 15%WI (prob 11.5% nri) which is currently producing about 30bopd plus some gas nett to GBP.
I don't believe Iti's necessarily a duster at this stage but if it is GBP looks good value to me at 16c.
