PLM,On the conservative;GBP174.5M SharesA$20M cash after...

PLM,

On the conservative;

GBP
174.5M Shares
A$20M cash after drilling?
EV~A$13M @ 19c
Target 100MBoe recoverable P50
GBP potential share is 25MBoe
A$10/Barrel
10% COS
Risk adjusted EV~A$25
or 26c share (inc cash adj after drilling)

More than likely COS is higher than this given recent success rate in similar leases in Uganda.

So could expect GBP to trade at least mid 20s possibly into 30s during January February with some press interest.

Disc value at A$10/barrel would be A$250M or $1.43, key variable is flowrate.