Explanation, page-6

When I asked about how CoS was calculated it was because the very thought of everything going right, but no oil accumulating in a perfect stratigraphic trap. But hey spending $$$m for a chance to go $$$b sounds good in anyone's book. Got to feel it for the long (pre-poseidon sale) termers, don't think the share price will be heading to $4+ anytime soon. However, adjusting perspective and observe things from a lowered base the opportunities are still there.

Company has assets with potential (K-2 production test results anyone?), and the money to prove prospective opportunities. Calm down and look at it rationally, still a good chance to be $3 again. Might not be worth buying at $3+, but at $2 it sure is worth a trade. Albeit much more exposed to the oil price, now that all the hopium is gone with K-W.

The more wells the more chance, as long as its got money to keep on drilling.