Ann: Drilling Commences at TAO-1 Well, page-49

Von

I know you have explained the odds and returns numerous times, but I just wanted to clarify. Please let me know if I'm completely off the mark.

- Currently the 29% COS equates to odds of 2.44 to 1 for a shot at $1, potentially up to $8.50.
- At the current effective price of 20.5c, you are essentially getting a shot at $1 at the higher odds of 3.87/1.
- In other words, if the upside was a maximum of $1, the price should be 29c currently based on the COS. But given the potential outcome of anywhere between $1 and $8.50, a 40c+ price is not unreasonable.

Just thought I'd clarify in gambling terminology, coz to me "even money" odds means when you bet $1 to win $1.

And of course its a gamble - I'm sure people are aware of that. Odds of 2.44 to 1 mean that there is a 71% chance you will lose your money. However at the current price, its a bargain bet.

So do your research and place your bets