ep 437 - north perth basin , page-58

amer222333,

Fair enough, the last 12 months has been a shocker for all shareholders with the management team failing to deliver on their promises. As a result they have a real issue in getting them back on side, hence this offer.

If you look at our current market cap of $6m and what we have in terms of assets it is a complete joke. Even with this severe dilution, we will still only have a market cap of circa $12m, which is probably the ball park figure for our Tz assets alone imo. Now, before anyone talks about all those options, remember our share price has to almost double for them to even be in the money. As I said, the entitlement offer at 4c is a steal.

Sure, there is a risk that one or even two of the Oz wells will come up dry, but that could easily be overshadowed by the UK action which is just around the corner.

With an ounce of luck, we could have good revenue streams from two oil producing assets within 6 months when Oil could be easily $100+ IMO.

With regards to Tz. If our major shareholders are saying we will throw money at it, then we have to hold this asset until at least the 2nd well is drilled to get the full benefit IMO.

One final point, if we should happen to have real success over the next 3-4 months especially in Tz, and our sp gets back to a more realistic price, we may see quite a few of those options being exercised which will bring into the company some much need cash to stay in Tz.

Anyway, these are just my thoughts

Good Luck

Cheers
R