going to 80c , page-20

Your right about the champions wells, though that only affects jet3, hadn't read that since annual report and had forgotten it.

In terms of other value:

27c is as stated the conservative value of the company IMO if they were never going to do anything but produce from these three wells. Of course at that price most options would be borderline in the money and may never be exercised, reducing dilution substantially below 171m shares.

Clearly they have significant money once options exercised to drill several more wells so there will be more income than just this. This is why I put a minimum of 20c spec value, giving 47c.

And as stated it is only a personal opinion that the real value of the other projects to come is much higher than 20c, and more likely at least 50c, maybe even $1.50, but that is purely my personal opinion.