the real value to share price

What I'm witnessing here is a lot of bleating from disspointed SH,, who frankly were almost incadescent with impatient even before this ann.

I've been pushing the comparative value story for a while now because in my view the share price will not increase dramatically i.e up to the 10c range, until we are underpinned by a sustainable value base, not just IP rate spikes.

Here's what I mean. At 110 bopd net declared production, we were valued at 2.7-2.9 cps. Thats market valuation, not book valuation SL. Factor in a 0.5c (baybe more, lets see how today pans out) dissappointment sell off.

Then...

Consider that (focussing on Pathfinder alone) we now have from that well alone, and at only 8% return of total fluids (frac/oil), a daily net oil flow (increasing daily), that at roughly 80 bopd means we are very likely to achieve final IP and even stable rates for this well that will, worst case scenario, DOUBLE AT LEAST current total oil production for the company.
To me this adds rock solid value to net worth, on top of which there will always be trading spikes and troughs that represent risk appetite, not investment.

Then factor in the pending 2nd Niobrara horizontal awaiting design data from the first. As for B3, let them clean it up and then assess. For me it was always about Pathfinder.

As for needing to go to market for capital, Cottee states this very morning that overheads are more than covered by production revenue, and from memory the placement cash raised back in early 2012 was calculated to cover planned operations through to the end of the current drilling program mid 2013.