speke south 1 spuds, page-4

A few quick sums:

Resource = 38.8 million barrels (risk-weighted)
% to BAS - 20%

Resource to BAS = 38.8 * 20% = 7.76 mbol

Note that the latest benchmark price for bass straight reserves is about $30/barrel.

So if this proves up the MC of the company should be about

$30 * 7.76m = $232m, which is almost fifteen times the current MC, based on the RISK-WEIGHTED resource (ie the amount they would expect on average allowing for the chance that this could be larger, smaller, or dry). In my books this is a pretty good bet.

This has potential to be anything from a 0.5 to a 50 bagger!