As I have mentioned previously this stock is ridiculously cheap at the moment.
I've just done some rough back of the envelope numbers. When Byron hit production the well should be producing 5000 Barrels per day. The price of Louisana Light Crude Oil is $US67.89 per barrel which in Australian dollars is $ 84.79 per barrel. Byron's 50% share is $AUD 211,975 per day ( ie $ 77,370,875 per annum ). This doesn't take into account Gas sales !! The GROSS REVENUE FOR BYRON WILL BE SENSATIONAL. I agree with your comments Cloudy 1. A definite rerate for Byron is on the cards. We are going higher!!!!
BYE Price at posting:
32.5¢ Sentiment: Buy Disclosure: Held
