Alameda - 1 - reserves due end of JUNE.., page-5

@Deus_EX_102

Your post has me thinking about intrinsic valuation.

MAY is currently a A$225m MC with about $30m cash so lets call it $200m.

In USD, about USD$140m.

There's 118m bbls recoverable on current McD figures with the expectation that the revised figures for sections inc Alameda but exc Marti will triple that figure.

We have a 30% interest so our net of the expected new figure is around 100m bbls (give or take abit).

WTI Oil is around USD$116 per bbl so for our share we have a gross resource worth USD $11,600,000,000 and a refinery 50kms away from the well head.

OK, we have to produce it, tank it, truck it and sell it with the option of pre approved export.

There will be some issues along the way, a few holes to drill and hurdles to overcome but what business doesn't have that?

And then there's Zapato, Beehive and 19 other block 9 prospects.

I sort of like our chances to be frank.