lets say they bought the other Utopia partner out for $5m by issueing 100m shares at 5c or by financing it with a loan, if they could ramp up production to 1000 bpd then 100% ownership would create a cashflow of $50m pa at todays prices, management has a good understanding of the existing geology and the type of oil field as they were involved in the development of the nearby Tintburra oil field while they were running Drillsearch, as such I think 1000bpd is achievable, its estimated at present there is atleast $300m worth of oil in the Utopia oil feild
lets say they bought the other Utopia partner out for $5m by...
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