Ann: Production Commences at SM 71, page-52

Not sure on the well life but i just finished punching up the back of note sums . With 4 wells averaging 900bopd...interested to see the 30day IP (3600 bopd at 40.25% working interest) ..... $70 oil just to keep simple equates to about 37m revenue, less cost per barrel/ admin ect. ....lets call it a loss of another $23-24.... that will leave approx 25Mil .... NPAT would most likely fall around 21.5. At the current MC we are around a 5 X multiple. If any flaws in my maths let me know. We could see a reserve upgrade and this will set the company up for future ventures and capital expenditure though (basically the value is looking alot more compelling).
DYOR (not to be seen as advice)