The value should improve at each of the following: FDP approval,...

The value should improve at each of the following:
FDP approval,
debt funding completion
FID
The seller finally finishing

As a bonus, we could also get:
Some new leases from the new round
A gas price increase
Takeover (if the price stays here until after FID)
Further farm out
A favourable change in Tax from UK govt


ps we should also get the Notice of meeting at some stage which is to vote on Directors subscribing to $750k worth of stock @4C (as well as the only negative... performance shares...)

So no, I dont think the share price will be dead until first gas.