i meant to add in the price comparison today using a multiple of...

i meant to add in the price comparison today using a multiple of 4

ebitdax in 2019 will be around 140mm with net debt of 360

140x4 - 360 = market cap 200 = sp 29c compares to 17$ = 25c currently - so quite frankly market has just priced snde at current fundamentals (plus some catchup to do because of redom)

so my guesstimate is we might end the year at around $21 - then hopefully they come out with a plan of 17,500 boepd for 2020 ie 30% uplift on 2019 + limited flaring and capacity consraints sorted + oil cut of 70% + net debt reducing + wti averaging 60 + shorters gone and energy market looking brighter.

Summary sp estimate 2020 - base case 35$ bull case 50$