Well said BUCKLAND Your maths on this latest discovery is an accurate assessment and all S/H`s should take note. I had my maths guru do what you have done and came up with similar figures. Many of us are not calculating costs into the profit of this discovery. We also must remember we have a number of wells that are not producing any profit. IMO the current price is fair value until we can achieve better production rates. Barney needs to put on the table exactly what our costs are and the net profit/loss it is costing us for each producing well so a far better assessment can be made.
The good news is, we are now in positive situation and there is a less drag on funds. Perhaps we can invest in better quality opportunities with the big players.
OTE Price at posting:
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