My response was very tongue in cheek, as most would have...

My response was very tongue in cheek, as most would have realised.

The SP is where it is for a reason. The GFC as well as lack of progress have conspired to send us down to despairing levels.

For the longer term believers, there has always been enough of a fundamental story to hang on for the ride.

News on progress will propel the SP forward from here. There is plenty to hold out for:
- UK approvals, followed by workover for expanded production
- Progress in Italy (potential free carry via farm in partner)
- Seismic results, including potential reserve estimates in Tanzania
- Commercialisation progress for KN-1
- Further drilling at WSS
- Drill results from adjacent blocks (Maurel & Prom, Mafia Deep etc.)
- Suriname
- Further acquisitions

Once these boxes start getting ticked off, the SP should be many multiples of current levels.

The UK assets are not to be underestimated for their potential to considerably improve our credentials in the investment community:
1. We will be a producer, not an explorer.
2. Opens up acquisition opportunities.
3. Reduces the dilutionary impact of further acquisitions and drilling campaigns.
4. It gives us geographical diversification in an extremely low sovereign risk country.

For me, I'm not going to put a number on it, but as we head towards ticking most of these boxes, the SP will leave the current levels far, far behind and we will see new all time highs.