I was just playing around with some numbers on Bongo.
If we assume $700k earnings per annum (and assume no decline rates or upside to current flowrates) then NPV that over 10 years @ a discount rate of 10% then the NPV is $4.3m net to VIL. Divide that by the current shares on issue (1.16b) and you'll see why this doesn't really make a blip on the share price. Its probably worth about 0.5c (which is about what we saw as the movement)
I think Bongo is more about the potential of the acerage than the current estimated reserves.
However saying that it gives much needed cashflow to a minnow invest company to allow them to go elephant hunting in Tunisia.
-SD It seems that the spud rally has started early (I was expecting this to move in early Jan) but I'm more comfortable being in than out at the moment given the possibilty of a positive result at SD.
-FP Still annoyed about lack of FP progress - but remember they spent (I think) about $400k on road access and pipelines etc during FP1 so if and when they do re drill for FP2 (hopefully from the same platform) then producing to sales will be extremely quick!
Note: Bowtie could be abit of a upside surprise. Some calcs...