I agree igloitz. A simple calculation of worth assuming the...

I agree igloitz.

A simple calculation of worth assuming the wells are not successful is:

Cash at 31 Dec 2007 after trade receivables/liabilities was $3,584,299. Less the projected drilling costs before testing of $800,000 leaves $2,784,299. Then there are legals and two meeting costs plus listing fees plus higher directors' costs and travel and admin for the last four months etc - say only $2,400,00 left. And these costs continue notwithstanding lack of share trading on the ASX.

With a projected 98,674,588 shares after consolidaion (and there may be a few more from rounding up) that gives a cash backing of 2.43cps (and if only $2,000,000 left in cash then only 2.03cps).

A safe buy is not more than this. The question needs to be asked at the AGM on 7 May 2008 how much cash DVM has and what value the present liabilities and commitments.