give the fool a cupee doll, page-33

Hi snouty,

The target for Pep 11 is 23tcf. Assuming 2p reserves of 5tcf then Pep 11 would be worth $2.5 billion.

Advent has 85% which equals $2.125 billion.

MMR will end up with 45.68% approx. of Advent. It can't hold more than 50% because then MMR would lose its pooled development fund status.

MMR's holding in Advent would be worth 970,700,000. MMR has 194,235,236 fully diluted shares so they would be worth $5 each.

BPH with expanded capital of 324,131,369 shares after completion of the rights issue will have 19.4% of Advent worth $413,737,500 or $1.27 per share.

I hold MMR,BPH, and GBA.