Ann: Block 9 - Maiden Contingent Resources, page-303

The response to Rivemore was do with accounting (scaremonerging on Sonangols ability or willingness to pay) , as operator Melbana is reponsible for payment of all expenses and then is reimbursed by Sonangol and this will be opposite position when then statrt generating revenue.

However a few comments in response to you post.
1. USD is the primary basis for quoting and payment for oil.
2. USD $75 is a very conservative estmate of the price likely to receive.
3. Asssuming a very conservative Profit of US $15 per barrel - Melbana share of production of 5,000 bpd which equates to AUD of $13.6m, which equates to a very conservative EBIT of 15.6x (current martket cap)
4, On reaching 20,000 bpd - and AUD $54m - EBIT will 3.92x

As the others have stated EBIT will only form a part of how the market will value the company in due course.