Yes, we are all here because we can agree there is "value" in...

Yes, we are all here because we can agree there is "value" in SHE at these levels.

But,,,I've said this before - "there's no point holding onto value you can't realise eventually"

I guess where we all have different opinions is on the time definition of "eventually". If SHE is still undervalued at 1.4c in 3 years time, would we consider that a good outcome? What about in 1 years time or 7 years time??

If SHE was regularly paying out a percentage of earnings (like a lot of junior oil co's and coal co's do), then the daily share price becomes a little less relevant, and we go to tracking interim and final dividend rations across the years. They may have a negative EV still at that future point in time, but you won't care because you are directly participating in the free cashflow

Let me rephrase - if SHE declared a 0.3cps dividend in the next quarterly, that would reduce cash balances by $2m. What would this prevent SHE from achieving operationally? My challenge is - this would NOT stop SHE from any of their current operational plans, and would merely represent a prudent allocation of capital for a sustainable long-term business, with current well revenue continuing to be both re-invested in new developments as well as returned to shareholders.