ok TC just for youlets pretend BUR gets 10mmcfd and 400bopd from...

ok TC just for you

lets pretend BUR gets 10mmcfd and 400bopd from these 3 wells

and its fantasy land where wells dont decline


After tax's and royaltys and running the office your looking at about $1.4mil revenue over this new financial year

lets assume a healthy PE of 8, that gives you a market cap of $11mil

lets pretend as well they dont do a cap raise and liquidate the stock more.

$11mil over 205mil shares = $0.053

lets say total $ EUR after tax's and royaltys is $21mil thats a value of $0.105c a share.

hang on.. isnt that what BUR was being valued at before Moeller was proven to be revalued.. yup.. it was wasnt it.


like i said, upside was to do with moeller proving value enough to get the price up to get the options to drill all those wells

thats where the volatile upward movement would have came from, but that opportunity is now gone as they drilled in the wrong spot