flow rates up, page-24

Monark

What NPV per barrel do you use for your valuations?

Using about $30 well and truly covers the current market cap for reserves alone and would not include all the other gear I mentioned. Even at $20 and after taking cash in bank into consideration there is nothing built into the price and so thats why I still feel the current sp/mc is cheap.

I agree that it may take some time for a rerate but it depends on the earnings a bit which will be much better over the next 12 mths - up around 20 mill per annum gross