I assume you're responding to me?Basis as follows:General...

I assume you're responding to me?

Basis as follows:

General Assumptions:
Shares on Issue (fully diluted): 705,000,000
Operating Cost: US$12/bbl
Thai Royalties: 50% of Gross Revenue
P/E: 20
Exchange Rate: $0.90

Case 1
POO: US$60/bbl
BOPD: 2,500 (net cvn)
BOPA: 912,000
Gross Revenue: US$54,750,000
Operating Cost: US$10,950,000
Thai Royalty: US$27,375,000
EBIT: US$16,425,000
Implied Value: AUD$365,000,000
Implied SP (fully diluted): 0.5177

Case 2
POO: US$60/bbl
BOPD: 3,000 (net cvn)
BOPA: 1,095,000
Gross Revenue: US$65,700,000
Operating Cost: US$13,140,000
Thai Royalty: US$32,850,000
EBIT: US$19,710,000
Implied Value: AUD$438,000,000
Implied SP (fully diluted): 0.6213

Case 3
POO: US$80/bbl
BOPD: 2,500 (net cvn)
BOPA: 912,000
Gross Revenue: US$73,000,000
Operating Cost: US$10,950,000
Thai Royalty: US$36,500,000
EBIT: US$25,550,000
Implied Value: AUD$567,778,000
Implied SP (fully diluted): 0.8054

Case 4
POO: US$80/bbl
BOPD: 3,000 (net cvn)
BOPA: 1,095,000
Gross Revenue: US$87,600,000
Operating Cost: US$13,140,000
Thai Royalty: US$43,800,000
EBIT: US$30,660,000
Implied Value: AUD$681,333,000
Implied SP (fully diluted): 0.9664

Take your pick?

cheers
neo