Ann: Voyager Helium Development Wells Approved for Drilling, page-18

Selling price per unit(mcf) = $750

Quantity sold = 37.7 mmcf

Cost per unit (mcf) = $84

Revenue = $750/mcf × 37,700,000 cf = $28,275,000 Expenses =$84/mcf × 37,700,000 cf = $3,166,800 Profit = $28,275,000 - $3,166,800 =$25,108,200

$25,108,200 USD= $37,257,229 AUD profit first full year ofproduction.

Helium prices will likely go down a bit over the years, butproduction will go up with the new fields/discoveries.

Yes, there will be a raise and yes helium prices are opaqueand plenty of operational risk.

But damn- this company has a $48m AUD market cap and is veryclose to producing disproportionate profit in relation to share price with verylow overheads. I get the risks/dissapointments of the past, but genuinelyshocked we are still trading in the low 3 cent range.