vil - pass petroleum, page-11

It would be great if some could just stop comparing the present fundamentals to a 20 cent share price and just put some reggae on, i.e just chill out.

This company has, in its present share price, something that very few junior oilers have: a basic fundamental value.

Alright fundamentalists and chartists, we haven't had flow rates, we don't have considerable cash backing. But what do we have? Over 100ft of net pay in two new field discoveries.

Caza had eight million dollars and NOTHING until Bongo. That's right, nothing. They had ideas, projections and sexy farm ins. But until Bongo and even today, they don't make a cent.

Why would the Bongo discovery cause such a stir and this is to be used as an example. As Bazzle Dog has alluded to, its all about reserves and continuous flow.

So what if we have to raise say 5 million to drill more wells?? We've got it! And the more productive wells the more we look like AUZ. Consistent cash flow for evermore. Similar to Mac Banks take on NSW speeding fines. Hence the LT Buy rating...