nice calcs Gutfeelig, thanks for sharing them. I've kept an eye on Tapis throughout 07/08 production on a weekly basis, and came up with an average Tapis price over that time of US$102.3. PPP hedged part, and allowing for that and last years production of 14.2mmbls, and exchange rates, my estimate is PPP have perhaps grossed about $AUS 150m. With slightly under 590m shares suggests they grossed more than the sp over the 11 months of prodction. Sure, less plus interest, less costs, taxes etc etc, they have still made a bundle. I agree cash will likely exceed the sp some time in not too distant future - soon if the market keeps heading the way it has. Irrespective of views of directors it looks like a buy to me.
PPP Price at posting:
0.0¢ Sentiment: None Disclosure: Not Held
