Ann: Samo-1 well unsuccessful, page-125

For Me maximum potential value would be when FAR has SNE at or near production, it then has a project that not only has maximum reserves booked but is also producing an income... at that stage you can either sell the project as a going concern if the price was right, or continue on with producing income for the next 25-30 years, and in that case the market will determine a value based around earnings per share and a price to earnings ratio...as a long life project it should command a reasonable PE.

I've done some calculations but when making calculations based on the future price of oil ,exchange rate ,future funding requirements and markets in general, the variables are considerable, but most would end up with a considerably higher shareprice...

Between now and production the market will do what markets do.

It's another way of saying the question can't be accurately answered, but you can play around with various inputs and see what the shareprice could be.

Cheers Whisky