Ann: Open Briefing - Reserves Upgrade and Decembe, page-3

re: Ann: Open Briefing - Reserves Upgrade and... A bid in a year's time would be much more indicative.

This conditional, non binding suitor can go away as far as I am concerned. At least it told us what the minimum we are worth. Until we get rid of the substantial holder now selling due to Administration difficulties, we will be stuck around the 50's. With a bit of luck this major shareholder may be able to get out now.

This company is worth well north of $1.40 if you value their existing 3P reserves at 50 cents. Which is reasonable bearing in mind their infrastructure and location.