back of the envelope

Current production for the JV is around 1000 bopd. With the imminent production from Snatcher 1, Snatcher 2 and Tigercat 1 about to come on line the JV will be producing at a rate of about 2000 bopd. So ITC's share will be about 800 bopd

800 bopd * AUD $50 ( current oil price - cost of production) = ~ AUD $40,000 per day. So 365 days * AUD $40,000 = ~ AUD $ 14,600,000 net to ITC after expences.


AUD $14,600,000/800,000,000 shares = ~ 1.825 cents/share.


So if we use a PE of:

3 we get 5.475 cents/share
5 we get 9.125 cents/share
7 we get 12.775 cents/share
10 we get 18.25 cents/share

# Can anybody tell me what PE ratio is used to value Australian producing oil company's.


These numbers do not include any future production from Snatcher 3 which I am led to believe will come on line in January after all permits and approvals have been obtained. These numbers also do not include any further drilling success which currently is running at about 70% success rate.
Am I missing anything?