annualised pe of 4 - worth a look!, page-16

Mick,

They have stated they don't need to put any more money into Malaysia this half - last half they invested 21.4m - also they expect to around 10-12m for the sale of their african blocks last year - add that to the 10 million increase in cash they madein the last half from ops - if we assume the same again this half that gives about 42 million increase in cash this half - on top of existing cash of 36m they should hopefully be pushing 78m by year end - note this excludes any revenue from the new chinese fields - a one cent divi would cost around 6.5m.

Do you think they will spend more in china this half than last half - if so that will impact cashflow to the downside.

I think its affordable but just my opinion.

cheers