pictures speak a thousand words, page-7

Some more figures to reinforce the previous post.

The aim is for 4000bopd from Trinidad in 36 months- and an additional 2739-4109bopd from the Beach Marselle water flooding. Not including the Herrera's as we can't be sure we'll find anything there (but if we do, revise the figures upwards).

Let's take the 4000bopd, and say 3000bopd from the beach Merselle water flooding. So 7000bopd.

7000bopd*365 days a year*$30 profit a barrel= $76,650,000= £50m a year.

At 8x earnings, that's worth £400m to the market cap. Current market cap is £180m. So over the next 36 months, you can double your money, from a relatively low risk project as the oil has already been discovered (and regardless of any rubbish posted on the forums, a 100% gain in 3 years is pretty good in the stock market- remember average returns are 10% a year. Yep, we've all seen times where it's possible to go dramatically above this, but for a low risk project a 100% return in 3 years aint bad at all).

You then get the Georgia/Puntland projects thrown in for free. And of course, Trinidad exploratory upside. Any finds in any of these projects will see significant return for shareholders- particuarly in Trinidad where we own 100% of the project. The majority of wells, statistically speaking will fail, but over the 3 year project, we should make more discoveries somewhere.