Ann: SM 71 Reserves Update, page-12

Yes, totally agree.

I value it at about USD$44.55/barrel; based on:

(1) WTI $68.75 (at time of doing the back of envelope calcs)
(2) adjustment to WTI as given by BYE -$2.80
(3) Cost of transport and extraction -$8.50
(4) Royalties -$12.90

Net value : $44.55

Exchange rate at the time was 0.75 so that makes AUD 59.50.

Broadly aligns with your AUD58.

Of course the market does not agree with me, so I must be out by a factor of 2 at least. Market must value the oil at AUD$29/bbl.