your figures look very reasonable
so we have between 55 and 40 million forward valuation on approximately 3,000,000 barrels of oil leftover as at 30/6/2008 or between 18.3 and 13.3 AUD per barrel of oil
if the price of oil was 50USD NOW the company would still be undervalued
this undervaluation is a market anomaly which I'm keen to exploit
