Oil glut is our biggest impediment, page-10

Re: "Even great news will have limited impact in this market"

Hi OOO

FWIW, here is a comparison of my spreadsheet returns for FAR market price for today and a month ago (using the same oil valuation bases as posted previously, adjusted for latest $A, share issue and oil price).

For results consistent with progress towards 500mb SNE + 170 BEL:

	Column 1	Column 2	Column 3
0	3 well progress to assumed proven 500	11th Oct	15th Nov Post issue
1	Brent	US$52.5	US$45
2	FAR market price	0.090	0.080
3	Table returns for SNE 1 0 proven 330 contingent:	0.080	0.067
4	Table returns post SNE 2 250 proven 140 contingent	0.109	0.085
5	Table returns post SNE 3 330 proven 130 contingent	0.125	0.095
6	Table returns post SNE 4 390 proven 110 contingent	0.141	0.107
7	Add success at Bel 1
8	Table returns SNE+BEL 390 proven 280 contingent	0.169	0.128

I am hoping to do a full Nov update post full resolution of the issue numbers and any market antics next week.
pj