Further to Deus’s reply 120mil is only really attributable to SM71 and 1 well at lightning only on an earnings multiple of 3.
So not only is it a free hit for all those Wells to come but the commercial aspect of GC21 has been missed also.
It also isn’t factoring any new multiple wells at a heavily de risked lightning either.
and by the way at a multiple of 3 it would still be one of the cheapest oil plays on asx (deserves a multiple of 5 or 6 once Finance is sured up).
Ann: Mustang Exploration Well Reaches Final Casing Point, page-54
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