i know this has probably been said a million times in the lead...

i know this has probably been said a million times in the lead up, but once again i find myself scratching my head over the numbers...

now we have pretty much confirmed that we are taking 40% of 2400bopd, which equates to 800bopd


and we know that oil is cheap at $AU80 right now.

so, once more, the bleeding obvious:

on 300 good days we would be profiting around $8.5mill pa

and using current typical PE of 9 for oilers, we ought have A mc of $76mill

or closer to 10c shareprice.

its mad out there. its like people are flocking to anything except proven fundamentals.

i should just sell up and by some more shares in explorers.