risked value, page-4

Hi stja

That's a good question which I have neglected to look at myself since the CR. At least the sums are easier now there are 540m shares floating around.

The computer says @ 32% GCOS:

10.8Tcf (Mean Rec Res) x 25% (permit interest) x US$0.50/mcf div US$0.98(FX) div 540m shares = $2.55cps unrisked vps (compared to $2.98cps pre 2010 CR)

x 32% GCOS = 81.6cps (compared to 95.36cps pre CR)

If we use my conservative 22% GCOS (explained in an earlier post) = 56.12cps (compared to 65.56cps pre CR).

Of course we can use any GCOS factor ie 50% = $1.275cps

Hopefully in a few days the gas will be found and the GCOS will increase dramatically or even become irrelevant.

Good luck all.

#:>))