Ann: Updated Corporate Presentation, page-98

In regards to price targets (and caution required because this is purely a technical view), I did a little basic charting over the weekend on IOG.LN which I also own.
As some may know IOG is a neighbour of HHR, with very similar assets but a couple of years advanced. They have already farmed out for full funding into production and retain 50%.
The below chart is where I think IOG will go over the next year or so, based on a simple long term measuring technique that has stood me well in the past.
Anyway, with 619 mill shares on issue and a price target of 76p, IOG would be valued at a MC of £470 mill, or $900 mill AUD for a 50% share of their assets.
That would be the equivalent of 97c a share for HHR. However, that is an undiluted value. But even if you were to half that 48c post funding dilution, thats still a 24 bagger

Long way to go yet, but Tamaruler's 3-4 x is an easily gettable target IMO.