loose valuation of petsec, page-6

This valuation process has many flaws / way over the top.......
We don't have the proven gas reserve figure , the 25BCF number is only a predrill GROSS capacity estimate?
Alot that cash flow is going to be used up in more wells as 3 wells are not really enough; this project is 80 klms offshore and that costs money to operate.
As PSA is down to $4million odd , heaps of cash will be burned up in this questionable China campaign.
And so on .......50 cents tops!!!