Pete
these figures are from the Good Oil Conference in sept 08
Independant 2P reserves valuation of A$350m (@0.86 exchange rate)
$350m less debt $66m = $284m
$284m divided bt 208m shares = $1.36 per share
This does not take into account the value of possible reserves or the extensive exploration leasehold positions held
Also this does not take into account subsequent exploration success particularly Longville project