Hi Miningnut and pj. I like your sense of humour mining nut, getting me to give up on reading Tea Leaves , you should have had a nice feed out of the tea leaves from LAF , a long and deep meaningfull profit. pj , I knew that you were astute,a syou know whom to ask, fancy asking me a tricky question like drilling costs,and expecting me to know .Probably US$110,000 for AMU share one drill hole at present. This last well say US$60 B per day, 36 BPer day to AMU say 13000 pa gives a 12 month payback at an oil price net of $8.5 a barrel.I think that is what you were realy asking, a real good investment return . If it is a multi well field and they keep hitting it then there will be a lot of growth in the company and a lot of free cash flow for something or other . There is a risk of an equity issue because of the gearing and the Accounts do state that the wells are worth more than their carrying value , and remember Red Creek is basically only coming on now after those accounts.Yes I have changed my mind and I have looked into the company and looked at the tea leaves. I look at most things, as I do not sleep much. Best wishes B2
