I'm not sure why you are still holding if you feel relentlessly...

I'm not sure why you are still holding if you feel relentlessly negative. You know the story with small cap resource stocks - predictable growth is far from the norm.
Our Surat assets are producing, and there is good reason to believe that production will grow. The potential for conventional production in Myall Creek from 'gassy sands' would be an outstanding result, even more so if conventional long-life wells could be stacked with deeper unconventional targets.

Our extensive holdings in NT have not had the market re-rate visible in the share price of EEG, for example.
And I argue we haven't seen the value of the Santos farm-in reflected either.
Before the STO announcement, I think most participants here would have rated that territory as secondary to the Macarthur in value, yet it has attracted $15m (half our market cap!) in cash, plus potential for another $15m, plus a free carry sufficient for a dozen wells.
I don't buy your comment that we will struggle to be profitable retaining only 30% of this acreage, because we have failed to be profitable to date in the Surat. It is like saying because I couldn't make ends meet on 100% of my kids paper route income, I will fail to make ends meet on 30% of Alan Joyce's paycheck. They aren't the same thing.

I think our share price currently reflects the Kincora/Surat part of the business, with close to nil value attributed to the NT holdings. Considering a part of these have been
valued at $30m for 70%, this seems like a severe under rating.

There is the possibility of a retail capital raising. If it goes ahead, it is likely to be immaterial, perhaps a 1 for 10 or similar with a maximum of 50,000 shares. I'll take it up, if offered. But there will be people posting here who will kick themselves they didn't buy on market at these depressed prices when they realise they won't get the increased holding they are hoping for.