BILLION BARREL BONANZA, page-300

If you review the reason for the drop it will help guide you in determining what you think a fair price is - should the reposturing meet the forecast expectations and pipeline developments eventuate.

Then factor in the other assets, without the Philippines SC58 acquisition as this is still very much a grey area for my considerations, and do some math, or read these guys sums as it is a fair bit to collect, to determine the value which should be attributed by the end of the September quarter.

From where I stand, options are likely to be in the money before the end of the year, so I will probably convert. I expect some traffic around that 8c-10c range as some mightve had enough feeling trapped and being in the red, that would be short-sighted in my eyes, but still expected. Dilution isnt going to be an huge issue either IMO as the anticipated cash from production will be useful in avoiding the relentless sourcing of outside funds, unless there is a strong enough reason for a big injection. The company model is to buy unloved projects they can spin into cash generating vehicles rapidly which are also able to enter the market at a low cost. Sounds good to me. The upcoming 4C will provide guidance on all of this of course.

I have also just signed up recently and still have some time until I'm confident I have the complete picture. But for me there are numerous reasons to be involved here. The chart scared me until I understood it, now I think it could be a great opportunity for me, IF this plays out how its being sold to us. There is the Q&A on Friday too, so gather your questions and submit them on the other thread. Hope you stick around.