onesmallbird, what is the basis for your 20c valuation? That...

onesmallbird, what is the basis for your 20c valuation? That puts the company with a market cap of $160m. With two unproven wells and one undergoing flow improvement work that is a ridiculous value. Maybe it would be worth that much as a speccy for its first well (and indeed, with 125m shares on issue it did reach $1.26 the first time round, with the carrot of 3tcf still a possibility), but with two practically dry ones from the same field already, no way.

I know some of you folks hate any negative sentiment, but some of the comments flying around about take-over targets, share manipulations, P1 being commercial, P3 must be good because the share price flipped up a whole 0.1c for 17.2 minutes .... surely a bit of reality is justified?