Last years CVN June 1/4 was released July 31st and came out with average realised price US$54.73 bbl.
As recently as May 2008 the Hartley SP valuation of $1.15 was based on the quaint figure of US$89.65 bbl for FY2008.
When the June 1/4 2008 comes out the realised price bbl will have to be over US$125.
All the valuations are hopelessly out of date and way too low with their estimates of POO. As the oil/gas concerns release June 1/4 results there will be a sudden realisation that valuations need to be adjusted up significantly.
This is my hope for the near term anyway, aside from any good/bad announcements.
hartleys underestimation
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