Ann: Capital Return - Notice of General Meeting, page-36

agreed if drilling hit comes up good smSP should give some value to Gambia

my calculations post capital return are as follows:

current cash balance = 176m aud
capital return = 80m aud
Gambia drilling = 30m aud
remainder =66m aud
takeaway 6m for wages and other costs
let's call it 60m aud which would = 60 cents a share post capital return

so for every share you buy you are essentially pay 0.5 for:
60 cents a share worth if cash
up to 55m usd worth of contingency payments
future cash flows from divestments of Guinea and Australian assets
plus the upside of Gambia drilling

am I missing something here in my cash backing calculations?