Wally, I reckon maximum price is about 10c. When the shares go over 2c, the options are in play, and the fully diluted shares total 2.7bn. So if it flows 20mmcfd (a figure that has been mentioned, sounds very optimistic to me) then at $11/mcfd that's $220,000 per day or about $80m p.a. which is 3c per share - but it won't produce long at 20mmcfd (the old bell curve), and they'll be drilling other wells too ... anyway, I reckon 10c top as value, but what it'll get up to on hype who knows. Could easily do 25c. Hope I have the guts to hang on that long.
Will be buying more when it relists.
AWD Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
