Ann: Quarterly Activities Report , page-15

All the setbacks aside though i still think there could be a surprise finish with MAE. They do have what 120bcf of 1P which is ok and they do have a large scope for increase in reserves. CC is definitly the saving grace I think they have some fast flowing wells that coud probably be run for profit. Problem is Helper is a put on the shelf project for what 1-3 years depending.

We have 140BCF 1P @2.50 per BCF = $350 M
+ say the same again for other reerves thats $700 M
$50 M in debt
350 M ordinary shares
60 M options

thats $650 M to 410 Mill share holders or $1.40 each
Take into account the fact they may have to take on more debt or issue options to get over th line then youcould still expect $1.20

and thats with only taking into account a lot of the gas thats prob at CC.

Still worth a punt i reakon may have been to quick to judge