stevenj,
If we look at the likelihood of an oil discovery of "just 500 million bbls", the value increment to CTP would be VERY VERY large indeed.
Just check through my sums: 500mn bbls oil; value in the ground A$20; equity 65%; no. of shares 260 million. And the result looks like this: $25 per share. We are now 10 cents per share, so the upside would be 250 times. Repeat 250 times.
There is no opportunity in the world that I know of as a pro in the business that could beat that. Conix
10 billion barrels , page-6
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