My thoughts are that with the 1 in 2 consolidation, and further capital raised, market capitalisation will be in the vicinity of $10-11m, with upfront costs associated with the leases at $1m, but with lease values $150-200m with a strong level of confidence, albeit with a drilling cost component. Interestingly, Robbo made comment on similiarities to Petsec Energy, which in March 03 announced success in the Vermilion lease 246 and 257, they currently are in 258 (amongst other things!) GulfX will be in there as well (317). Bit presumptious I know, but Petsec were 33 cents at the time....
Thats my take on it, interested in views to the contrary, imo though, looks pretty sharp.
NHE Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
