Ok well no one has risent to the challenge of finding my...

Ok well no one has risent to the challenge of finding my DELIBERATE mistake...... ahem. OK ...I was tired... ahhh the financial crisis has taken its toll... whatever sounds a reasonable excuse.

Yes well the methodology was a little too simple and therefore liable to distort things.
Right better method is to take the GGP value of 64 cents and multiply that by the number of GGP shares on issue.
243,234,160 shares x 0.64 cents = $155,669,860. Now if that represents GGP's total value from Bullseye (Miogyp) then NEO will be one-eigth of that total.
So $155,669,860 divided by 8 = $ 19,458,732
Then that total value will need to be divided by the total number of NEO shares which number 480,468,980 and you will come out with something between 4 and 5 cents.

Now I earlier said that GGP will have dropped from its drilling well share of 43.33% WI down to 40% approx. In reality I think that GGP's share drops down into the mid to high 30's .... say 37% WI.
So NEO's 5% will be a proportion of that. Say somewhere about 1/7.5th and not 1/8th.
So we can see how that 5 cents for NEO comes about. However having acknnowledged the possible value established by the author of the assessment we must remember that Mark Freeman had earlier indicated when NEO first got involved in the well that if the well was successful and contained what was then expected (12 mmbo and 33bcf of gas) then that would add 12 cents to the share value of NEO - or words to that effect.

So we await developments with interest.