Stylishlalit,You are right ... the market is more concerned...

Stylishlalit,

You are right ... the market is more concerned about future growth than the present cash in the bank ... I used present cash (I have not included any future cash) because it is a known item ... If nothing else comes to pass (no new work, discoveries or wells) they atleast have the present cash.

You are right ... my assessment only used current cash as a basis of share price valuation and this should not be the only determining factor ... I have not included any potential sales or profit emerging from existing producing assets ... These realistically should be include but I discounted them to offset any costs and expenses in carrying on the business for a time while management close out any pending deals/negotiaions on future work and income/profit generating initiatives.

You are right ... buyers are very thin ... and quite frankly I would prefer no buyers at these current low prices.

I am not sure about your comments re the PSA burning cash slowly ... the cash balance has steadily increased since Jun 13 ... In Jun 13 Quarter Cash was at US$24.2 mil, it increased in Sept 13 Quarter to US$25.1 and increased again in Dec 13 Quarter to US$25.4.... $US25.4 / .9 (exch rate)= AUD$28K approx.

As I said before I hope that progress on some deals can be sorted sooner rather than later so that the stock values can be viewed in a different light ...

Thank you for your points of view ...


PeterRG