Yes, we may need to start talking valuations some time soon. When I bought my position, I was convinced that the valuation would be around 16c-to-24c with high risk. I think the high risk is still there but there has been some dilution of the share register, I am now looking at 12c-to-18c but I am happy to review it after seeing the effect of oil production returning to normal on the oil price.
What's there to like about Australis?, page-91
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