Melbourne 88e'rs, page-215

Barry I hear what your saying about market cap but on a speck stock I think current mc is really a forward indicator of what the market thinks is in the ground or the value of our acreage and what's under it. We have 20 mill cash so we are saying 110 million for the value of our business if it all goes to plan. As we derisk then mc goes up with what the market thinks we can pump out of the ground. If chillys numbers are correct then we have a lot of catching up to do. Dave is in the middle of trying to de risk this play and prove up what we have. In my opinion he is trying to get us the best deal and trying to protect us from further downside. But there always will be a possible downside in any stock. Just look at cba $94 high down to $71 only weeks ago. That's the market. Go figure.