Definitely worth drilling, but not super exciting from a value...

Definitely worth drilling, but not super exciting from a value per share basis.
Success is worth 2.5 to 3 times the duster cost of the well with a 60% COS.
Well cost could be higher, and it still may not be commercial/pay for itself, so not really that straight forward.
Surprised that it is only assessed at a 60% chance of being commercial, this is getting close to a flip of a coin.
This would make me nervous if I still held OEL as it implies there must be some serious concerns re-seal, or charge, sand quality, etc.
Close-ology is no guarantee as BYE has been finding at SM58(?).

SM71 D5-ST Rough Estimate of NPV of this well (approx $0.002 / share; approx $0.0027 if no tax payble; approix $0.00086 pas share for a duster)
	Oil bbl	cu.ft
	271,000	86,000,000
	271,000	86,000
oil/gas	$80.00	$2.20
prod costs	$10.00	$0.70
net	$70.00	$1.50
revenue	$18,970,000	$129,000
total revenue		$19,099,000
well cost		-$8,650,000		-$2,850,000
		$10,449,000
less tax	25%	$7,836,750
shares		5,000,000,000		5,000,000,000
per share		$0.00157		-$0.00057
aud p/s	$0.6600	$0.00237		-$0.00086
need to discount cashflows (several years of production)
hence success case would be worth approximately aud$0.002 per share
duster cost would be around $0.00086 per share
if no tax payable (GC21 writeoff), success would be approximately $0.0027 per share