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Ok, been doing some reading and it gets more fun every time I do, just dont get the time to do it properly much now.

Now life is a bit tough as you watch all these other stocks going into trading halts and getting speeding tickets whilst we just sort of sit here.
However, I never classified the herd as that smart, so tend to do my own thing.. and it does me alright.

So I am sitting here wondering what is going on and doing a bit of reading, the more I read the more I get excited about UK and Italy, but still reckon the big one we are waiting for is to find the size of KN1.

Originally it was a very small prospect but the result blew everyone out of the water. A 60mtr column is no small feat.
So back to is and see what pops up.. they thought it was pretty good and I am not one to argue... (much)..
I reckon the market has valued KN1 at around 10-15BCF. No great science to it, just a gut feeling thats all.

Lots of postulating but the best I have seen is this one by T4P.

In this one we get a figure between 89-335bcf.

Now if you think this is a bit over the top, I will say that one of the Oil sheets recommended its readers to look it up.

So we have now..
A/ ~119,314,048 shares on the market
B/ Share price of 12c for $14.3m market cap
C/ ~ $6.3m in the bank ($2m + $4.3m)
D/ ~ $156k mth Income from UK
E/ Assets in UK worth ?? (the well heads and tanks gotta be worth a bit and transportable)..

It is reasonable to expect income from the UK if we left it alone to tick approx $2m year and pay itself off in 2 years.

Orca tell us that Songas can run at 90mmscfd currently (spare 31mmscfd in reality) and 110mmscfd is not far away.
Going by page 14 they will not hit capacity until 2011-12, around 2012 some are saying that Songas will be running 200mmscfd.

Orcas P&L does not look anything special, however they spend a lot on infrastructure and when this is all over they will own much of the gas infrastructure in Dar... with a population of 3m or so it will become a very valuable asset in its own right.

The big game for us though, is confirmation that a pipeline will be built from Songo Songo to Kenya.
Kenya, Tanzania in partnership to put up natural gas plant in Mombasa
If this goes ahead the race will be on to drill Nyuni and WSS as there will then be supply constraints...

And if we can pull gas out of WSS then that will be party time, as that was a sweeter deal..

UK
If Brockham workover alone is successful it could generate $4m year in revenue.

Italy
Will excite a lot of people and not a lot of others, but once we have the Permits and can wave them around... we will all love those little Italian cars again..

So where was I... <:-P}
We have cash assets of $6.3m, a market cap of $14.3m should generate $2mPA which could go to $6-8mPA in UK. Italy is about to come our way (imminent is the word used), we will soon enough know how big KN1 is but I am thinking this is where the shock will be.. seismic finished end of July.. and all of this is now not very far away at all...

So I ask, why would I sell at 12c now... when the fun really cant be too far away... and I can hear the tears and screams as others come crashing down again.. you wouldn't miss it for the world.