I personally value it at cash value and that is where my "about x10" over valued comes from.
A huge loss making machine that dilutes shareholders into oblivion.......whilst simultaneously hitting nothing but dusters for a full decade......
How you can bake in such an eye watering over valuation based on "but there is oil down there, they tell us there is" is a lot more humorous I assure you.
Hope that provides some clarity Bill, thanks.
All in my opinion.
Ann: Rights Issue - Letter to Eligible Shareholders, page-17
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