dumping 33.5c, page-29

Zaccc,

try thinking as follows:

Imminent production from
Galoc at 3000-4000 bopd
net to Otto.

3000 barrels x 365 days x $40 profit = $44M profit a year..

shares on issue = 480 million

earnings per share = 9 cents...

on a PE ratio of 8 = 72 cents share price value...

PLUS OTHER PROJECTS WITH DEFINITE CASH FLOW FROM GAS IN TURKEY AND DRILLING IN ARGENTINA NEXT YEAR....

NOTE: my numbers are just guesses...ask Salty for the cost per barrel and the royalties, tax, etc, payable in the Phillipines...

then we can work out what's going on....