19 bucks, 50% chance of success, page-16

October is when the options expire as well... There is another $7m in the bank which puts them in a very good position. Heck they could afford to pay for their share of a second exploration well (33%) on the Moroccan permit if need be. Such a situation may be apparent if say oil is found but its not commercial.. But they do the processing on Zeus and find that there is a great CoS there. Of course I hope TPT can get it right the first time but hey you have to think on the down side when assessing risk sometimes.

So long as the cash burn rate isn't too bad, TPT could be sitting on over 16 - 17m by the end of October. Also, isn't GALP's payment and the govt 3m in USD? Lets hope the AUD keeps falling! Right now TPT is looking at about $11.5m AUD rather than 10.5 due to the exchange rate... Lets spend that cash on our new NT block hey? Ha ha