I reckon, same as most, market undervalued current worth or FAR....

I reckon, same as most, market undervalued current worth or FAR.

As we do, you can debate the numbers but roughly you can put a value on SNE using 1C & 2c at $12.5, $10 or $4, using FAR numbers or JV, US exchange 0.70- 0.75 and you easily get somewhere between 15c-25c.

On that basis alone we are undervalued, let alone future prospects on Samo, Bambo, Soloo or Spica and Sirius (plus other WA & MSGB). Not forgetting PE and ERIN possibilities. What value will become of all of this, who knows, market currently ascribes zero or even negative to opportunity!!

IMHO if Samo does come in, before it is appraised and FAR has the enviable position of having to CR, I would think someone will put in a TO. I don't really care how they come up with a number, but I'd definitely be out above 50c and probably a much reduced holding anywhere between 30-50c.

If it's a duster, I'll continue to hold on PlanB, which is SNE production and cashflow plus the potential of the other opportunities. I'm increasingly nervous over the world outlook of next few years though as it's been some time since GFC and wouldn't like to hold indefinitely, oil is probably not a bad sector though (at least 10 years, maybe not longer with technology changes and renewables).

Cheers