re: i did...i did...i did see a puddy cat... Just to remind...

re: i did...i did...i did see a puddy cat... Just to remind everyone, Bounty have a current market cap of $17m at 20 cents.

They have

(a) Woodada gas field, that basically pays for admin expenses,
(b) 25% of a 1.2 TCF-level prospect off Sydney (and wouldnt the NSW govt love that, given Moomba)
(c) 10% of Nyuni and Okuza in Tanzania
(d) 10% of some offshore NZ territory.

Now, they are free carried through (b), (c) and (d).

If Nyuni hits 100 mmbl, and offshore Tanzanian oil is worth US$3 a bbl, thats A$400m, or A$40m for Bounty ie double their market cap.

100mmbl is much smaller than the pre-drill estimate of 280mmbl in Nyuni, of course.

If Nyuni misses, I can still see 20 cents of value in the other prospects.

I dont see Bounty having a need to issue new shares (especially if they can keep their price over the 20c exercise price of the options).

Basically, this is a monster waiting to happen.

Ian Whitchurch

PS Assuming a 10c leap in the shares to 30c if Nyuni hits, that makes the options worth 10c. Therefore, thats a 6:1 payoff for oppies at their current 1.5 cent. If you think Nyuni is a 1 in 6 chance, then you'd pick up some oppies, right ?