- improved 400boed production ---550boed, US$3m-4m/y values 3C/S in AUD
- Borba1-7 production--at 3MMscfpd (Net 2MMscf) ,US$2.5m-3.0m/y values 2C/S
- $6m-7m cash on hand, values 1C/S
above is current fair value 6.0C. for 600m shares on issue (supposed all options exercised)
Upside & Upcoming development potential:
- upcoming1500Boed production ---, $5m-6m/y (75%gas roughly 6MMscfpd+400bblpd) values 4.5C/S at oil price>$70
- near term 5/6 well drill plan ---potential for similar 2-3 new gas discoveries like Borba1-7, values 2C/S for every 2MMscfpd
- potential for significant gas discovery during drilling ---5C+/S for every proved 100BCF, or every 8MMscfpd flow well
- material acquisition release----new material project acquisition--3C+/S potential subject to quality & potential
- development plan for the new acquisition announced ---extra 3c+/S if hydrogen or helium focused
risk is at discount ratio for the upside potential , 6-8c should be floor or fair value.
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- Ann: Borba Test Results Confirm Excellent Production Potential
Ann: Borba Test Results Confirm Excellent Production Potential, page-135
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