ASX Today, page-12065

I look at the FO in terms of market cap. Currently our mc is around 107 mil which equals a share price of 1.6 cents as decided by the market when looking at shares on issue.
So say someone wants to invest 30 mil in a drill, 25 mil on new 3d and 20 mil in cash back for funds spent by 88e for a good whack of control over conventional oil possible resource in at least the western blocks , this means in theory 75 mil of investment should be added to current market cap which takes sp to around 2.6 cents as a min.
Of course its not that simple , as quality of farmee and nature of deal will also affect the sentiment of the share price and hence the accreditive nature to shareholders as alluded to by DW in recent release.
Farmee could likely offer staged terms of investment with stages dependant on milestones being met before further investment.
2+ billion barrels of oil is not proven, so its not a case of applying a ratio to the oil numbers, that would come later after resource is proven up.
I am expecting sentiment plus above , to drive price to 3 cents a share ,at least initially and then what will be will be after that.
In summary the odds of share price appreciation are skewed to the upside given the current market cap in my opinion.
Good luck to all holders