$5 per share on success, page-33

Well, Fosters in July 2013 said that Trident alone could be worth $10.60, with TMA and Assaka having unrisked success values of approx $5 and $4 respectively. All three of these prospects are stacked on top of each other and so are being evaluated with the one well.

So the primary target has double this quoted $5 success value whereas the two secondary targets are in the ball park of this figure. And with 3 chances at the cherry, the odds of having at least one success must be increased.

Now, there are approx 175 million shares on issue, versus 130 million at the time of the report. However as far as I can tell (happy to be corrected on this) the difference is just due to excising of 44 million options. So I think the leverage involved should be the same. At our current price, around 50 fold for the best case scenario.

Hoping for more than one prospect to come up trumps would just be greedy methinks and might anger the Oil gods.