Ann: ASX grants extension of removal date, page-7

Ah the old "how long is a piece of string" question there blockhead.
Now I can only hazard a guess in this instance but if I was to do a very,very rough back of an envelope simple calculation I could come up with sort of an answer. If anyone with more experience at working these things out can correct my simple calculations please do so.

I would emphasize that I could have this all wrong so it would be helpful if others could offer either a thumbs up or point out where I have this wrong.

The first thing is that I have assumed that in the first instance the company manages to have a 100% response to raise $4 million.
So we have $4,000,000 plus the $800,000 from the Indus capital input to make a total of $4,800,000 backing to 380,000,000 shares in the new company. Now on that basis a rough calculation would mean that each share had a cash asset backing of 1.2 cents

The second thing is that I have assumed that in the second instance the company manages to have a 100% response to raise $5 million.
So we have $5,000,000 plus the $800,000 from the Indus capital input to make a total of $5,800,000 backing to 430,000,000 shares in the new company. Now on that basis a rough calculation would mean that each share had a cash asset backing of 1.35 cents

Now that is a very basic calculation. Obviously it then depends on what value the market then places on the prospects that New Era intends to get involved with and is going to invest the funds into.
Is it reasonable then to suggest that the shares could be valued on the market at least at 2 cents per share. Of course the closer the working over of the producer well at Bargie 1 gets and also the drilling of Bargie 5 then the potential for some share price appreciation in anticipation of a good result.
Hopefully those comments are a fairly conservative view of things. I would emphasize that it should not be taken as investment advice. I may be hopelessly astray as no doubt there are other aspect to take into account.
Anyone else like to contribute their opinion ?