At the first layer, should have the core out for analysis.No...

At the first layer, should have the core out for analysis.

No news today, but plenty of news tomorrow :)

Ian Whitchurch

PS 79 cents for Stuart on 62m shares, thats about $50m. They own 2.5 mmbl in Worrior, plus 0.5 mmbl in Acracia(*), plus call it 0.5 mmbl in Harpoono, RSW, Derrilyn.

Thats 3.5 mmbl of reserves to justify a $50m valuation ... less than $15 a bbl in the ground, with oil at US$40, and exploration acreage valued at nothing.

(*) Stuart and Beach are still saying there's 1.4 mmbo in Acracia. Much as I love STU, I think there's a permanent water problem there, so I'll downgrade that field.