My maths is as follows:900K net to PPP at TAPIS $140 less $20...

My maths is as follows:

900K net to PPP at TAPIS $140 less $20 for all costs (I know this is generous amount of costs, don't argue, just being conservative).

900,000 x $120 / .95 = A$114M net cashflow

less royalties of 20%
less NZ company tax of 30%

$114 x .8 x .7 = A$63M net cashflow to PPP

588M shares = 11cps net cashflow to PPP in the coming production year from 1 July 08 to 30 June 09.

Man that is going to be some serious cash they are sitting on.