looks set to run, page-4

Specking,

"Because dry hole has got Jingemia and will soon have cashflow from PEL 104 and/or PEL 111 and/or PEL 115.They are bound to have at least one success there if not more.(especially 104)"

I can't speak too much about Jingemia because I dont know the area that well.

As far as 104, 111 and 115, I know that area.

Much of 111 is outside the Permian trough boundary.

OK, 104 is a nice PEL ... but they only have 40% of it.

Historically, most Cooper wells in the new era have been around 1 mmbo (Sellicks+Christies+Aldinga, about 0.6 each ; Acracia 1.4 from 3 wells ; Worrior the outrider with 3.4).

1 mmbo is worth call it $20m ... 40% of that is therefore $8m. With a billion shares outstanding thats ummm a cent a share, right ?

Ian Whitchurch