Back to share trading...

Just did some calcs and based upon -

- TPT being free-carried for the first US$33 million,
- Paying 33% of anything above that US$33 million free carry
- Being owed US$7.5 million by Galp from back costs
- That US$7.5 million at 33% of cost if needed to be used by TPT would equate to a further US$22.5 million total (Galp 66%/TPT 33%) so would mean coverage for up to US$55.5 million. The worst case cost disaster with a fair amount of delays and other cost contingencies built in was US$73 million - and that included drilling down to the third target (which they didn't do), so given that operationally the drilling went smoothly with no delays and they didn't drill down to the third target, I think that it is reasonable to figure that the drilling shouldn't top US$55.5 million so therefore TPT should still have about A$14.35 million in the bank as they had $14.626 at June 30th. That equates to 5.7 cents per share. Anyone beg to differ?