inp, page-4

"Substantial additional upside is provided both downstrucure from the new Lowest Known Oil and by other stratigraphically higher intervals n the Patchawarra and Toolachee formations"

It is early days and further good news will come holders way .

But for the sake of valuing, imo, work on the basis of what 1000 bopd is worth in shareprice terms because that is near term, straightforward, and foundation realistic .
The initial production will definately be overtaken substantially as progress is made .
I reckon 2000-4000 barrels a day across 120km2 will be easily possible, and for the sake of my personal targets and considering the large field size, low share issue, and high equity stake I am targeting 6000 bopd some time .

1000 bopd @ Aus $35 profit margin = $12,775,000 per annum or 8 cents per share per . (PE 16 = $1.28)

2000 bopd = 16 cents per share (PE 15 = $2.40)

3000 bopd = 24 cents per share (PE 14 = $3.36)

4000 bopd = 32 cents per share (PE 13 = $4.16)

5000 bopd = 40 cents per share (PE 12 = $4.80)

6000 bopd = 48 cents per share (PE 11 = $5.28)

Calcs above are based on 160 million shares .

120 million OIP barrel basis * 75% stake = 90 million OIP

90 million OIP * 30% recoverable = 27 million barrels recoverable .

27 million barrels * $35 margin = $945,000,000

27 million barrels / 4000 bopd = 18.5 years production