No doubt, BAS will fly if they get some good hydrocarbon shows however mid teens seems about it pre spud given the current market sentiment
The analysis in the free sample refers to Tara prospect(43mbo)however they are going to drill Speke (36mbo) so the risked value is ~20cps using the same methodology.
The other prospects are interesting but not farmed out yet let alone a rig booked. Drilling 2009 at the earliest
If Speke is a duster the downside will be nasty. With no near term followup drilling I reckon a drop to ~7cps is probable.
Windemere could be the next well on agenda (May 2008 pending farmout and rig availability) but only has a risked value to BAS of 5cps.
Excellent potential upside with the drilling of Speke but ~50% downside from current levels of 14cps if its a duster.
BAS Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
