Fundamental Value, page-98

	Column 1	Column 2	Column 3	Column 4
0	Column 1	Column 2	Column 3	Column 4
1	Dorado Oil
2		Low case (1c)	Mid case (2c)	High case (3c)
3	Recoverable oil	82,000,000	171,000,000	320,000,000
4	Revenue $75/b	$6,150,000,000	$12,825,000,000	$24,000,000,000
5	Cap ex	-$500,000,000	-$500,000,000	-$500,000,000
6	Op ex $20/b	-$1,640,000,000	-$3,420,000,000	-$6,400,000,000
7	Gross profit	$4,010,000,000	$8,905,000,000	$17,100,000,000
8	Tax - 40%	$1,604,000,000	$3,562,000,000	$6,840,000,000
9	NPAT	$2,406,000,000	$5,343,000,000	$10,260,000,000
10	CVN share (20%)	$481,200,000	$1,068,600,000	$2,052,000,000
11	$ per CVN share in AUD	$0.62	$1.37	$2.62
12
13
14	Buffalo Oil
15		Low case (1c)	Mid case (2c)	High case (3c)
16	Recoverable oil	15,300,000	31,100,000	47,800,000
17	Revenue	$1,147,500,000	$2,332,500,000	$3,585,000,000
18	Cap ex	-$150,000,000	-$150,000,000	-$150,000,000
19	Op ex	-$306,000,000	-$622,000,000	-$956,000,000
20	Gross profit	$691,500,000	$1,560,500,000	$2,479,000,000
21	Tax - 40%	$276,600,000	$624,200,000	$991,600,000
22	NPAT	$414,900,000	$936,300,000	$1,487,400,000
23	$ per CVN share in AUD	$0.53	$1.20	$1.90
24
25	Assumptions
26	Shares on issue	1,100,000,000
27	Oil price	$75.00
28	Dorado production costs	$20.00
29	1 AUD = $1.4065 USD	$1.41

Updated your spreadsheet, believe I got it right.

All figures in US dollars until $ per CVN share in AUD.

Massively undervalued.