Think I read it in a previous ITC announcement.
They mentioned the Market values reserves ( P90 or P50 )at AUD$30a barrel. 4,000,000bbls and 40% ITC share is 1.6m bbls @ $30 each therfore worth AUD48M to ITC market cap. divide by 415,000,000 shares on issue around 11.6c per share.
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- keep watch break of .10 a possibility