even more significant if you factor in a commodity price recovery which given the life of these wells is absolutely guaranteed.
Also these are discovery wells, no doubt when prices recover there will be much upside in drilling of step out/development wells in this field.
Another cash generator !!
The whole market cap/valuation is severely mispriced on this stock IMHO, with the value of the assets (net of debt) easily equal to 3x current SP, even in current climate. I guess that is why they are considering a trade sale of the assets and a possible return of capital to S/H as a means of realising the value locked in AMU
Exploration budget for 09 is still a healthy US$16m heavily skewed to high impact wells so plenty of room for further drilling success
even more significant if you factor in a commodity price...
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