so - um - what happened ?, page-21

Merry Christmas to all.
Have been out dodging the wet wether in FNQ. It's getting a bit old...never mind.
AMU..let's look through the dust for a bit and check on what is left.
Kanas original cost was US$55.6m and has produced US$76m in revenue and during the period an EBITDA of US$61m = payback. The company now has the next five years net revenue in the bank. Not such a bad thing. Oil price is a certainty to head north but nobody predicted $145 and straight back to $33 either.It appears that the remaining assets have tremendous upside (circa US$100m)and we are told that these reserves can be put into the 1P category from cash flow.From my reading, the Denver team are first rate industry professionals and want to get on with the job.If the Board allow that to happen then we should have a company with a value of $150-200m by the end of 2011.Historic buybacks appear to have stalled due to limited cash. This should not be a problem now.Provided the buyback continues via the market and an offer is made to shareholders to buy a portion of their holding then it should be a good result. Planets need to be aligned. Should the A$ retreat and the oil price heads north we should be looking at a price well north of 60c. This is my opinion only and I am very bullish on oil. I also hold TEG and NGE. It will either be tears or beers in 2011.
All the best