Buy Buy Buy, page-12

good pick up on the npv. I went through the prospectus and couldn’t find it today, so did wonder. I’ve bought a few today though only for a punt. I think the NPV does matter but with the drilling program they are doing, they should be able to firm up and extend reserves materially, so this will increase. For the size of resource and flagged AISC (just a forecast of course and highly uncertain) it doesn’t look expensive, although not alarmingly cheap either. $116m market cap ex value of PNR shares for half of over 4 mill resource. I just think BP will rally and support this a bit, plus maloneys won’t want to see everyone too burnt. I reckon there’s a trade in it from here