I'm just throwing this out there, as first time I've attempted...

I'm just throwing this out there, as first time I've attempted to figure this out...
From the April update...
Bass sold 9347 barrels (net to us),
Average price $65.57 (US) per barrel.
That's $612,822 (US) for the quarter.

Now using a cost of around $35 (US) per barrel leaves a Profit of around $285,737 (US) for the quarter.

In yearly terms, equates to around $3,428,000 (US).... $4,500,000 (AUD).

Now even at just 10×pe ratio that's a MC of around 45mil in my mind.

Ok, so what am I missing????, any gurus please correct my math.
As I said, first time attempting to figure this, so any imput welcome.
Cheers,
Mick.