kurnia 1, page-41

re: sellicks2 I doubt you will see much lower.

I am expecting that they will soon have 1.3 mil barrels in proven reserves ($ 30 a barrel = $39mil), $25 - $27mil in the bank or owed to them by the refineries, and then you have their tenanments.

So if you work it out at 60c a share 140mil shares you get a value of $84mil or which around 65mil is in cash, or a cash equivilant.

Most of us would agree that the dirt they hold in the Cooper is worth more than a few mill so I don't see any real room for more downward movement.

If you are lucky and have buys sitting in the market between 55c and 60c you may get lucky and one of them will be hit but you would have to be a lucky person.

The question now goes begging - when does the consolidation start. GOG and Beach look to be underway. I would have thought that somebody big would be sitting on 4.99% already with regards to COE.