Where did the oil go?, page-24

I would want a lot more than some of the figures being thrown around here?

1C resources from JV are 277M x 13.7% is 38M net to Far

(based on Far Risc numbers (640M 2c) there is  348 1C x 13.7% = 48M net to FAR, that's why RISC update was important)

$12.50 US has been used to value 1C and at current exchange rate that $17.60 AUD

(based on $70 US oil, currently about $67 having fallen from $85)

Let's call it 35M x  $15 to be conservative, that $525M or almost 10c/share for 1C reserves alone.

Additional 2C reserves at $4 US could be worth more than half of that again, which is why I think 15c is probably a fair or even conservative value.

We just need SNE to keep progressing and ticking the boxes to realise that value. Selling out before that is leaving money on the table IMHO.

Not forgetting the $30M in the kitty, I'm waiting to hear what we're going to do with.