According to the presentations where NPV’s have been mentioned...

According to the presentations where NPV’s have been mentioned as well as liquid values, let’s assume BASS is correct:

• $200k per BCF in liquids
• $2m-3m per BCF in gas
• $20 per BBL of oil

At 5 BCF just for Kiwi, which is the medium just for the area, not the entire area, you get:

• $20m for the liquids
• $12.5m for the gas
• $16m for current reserves

Call 17c on current shares on issue. The market is currently sitting at $30m, so I am guessing assuming low end of 3 BCF. We started at $14m value, so we can assume the $16m value for existing operations and reserves is about right.

If you want to dream big then add in PEL182s 21TCF .10% in ground value on the above numbers for another lazy $52m if the market is willing or $.30-.35c

Let's see but the options at under .05c are a fixed stop loss in case