back of the envelope valuation, page-22

MJS

thanks for relaying your conversation with MD.
talk of sustainable dividends seems a very sensible approach to me.
If Schwing comes in at the size they are hoping for then u would expect a fair bit of expenditure on step out/development drilling in the short term, but the cashflow that a well(s) like that can produce (if successful) would be more than sufficient to enable a sustainable dividend policy, imo.
With multiple promising shows above target and only 2-3 weeks b4 target depth is reached a positive hit on Schwing could be the catalyst we are looking for.