big bid, page-11

I'm over in the US at the moment, the fear is that all deep-sea drilling will be banned.

As to the low point, I figure the company has stated "a return to profitability". This to me says $2m - $4m. Based on latest half report that is 0.5c - 1c per share.

Choose whatever multiple you like, it doesn't equal much. So most likely $0.12 NTA could be the lowest of lows.

Of more interest is final quarter activity and what that is pointing to for FY11. Hopefully closer to the $21m net profit of FY9!