BundabumThe workover program has the potential to increase...

Bundabum
The workover program has the potential to increase current production by a factor of between 5 and 10 fold, according to statements at the AGM. I'll let you do the math on that.
The PASE renewal will enable a more appropriate p/e to be accorded to this revenue.
Exploration will not commence until the renewal is in place (for obvious reasons) but the company has been working on generating exploration targets in tandem with the renewal process. If you troll through old presentations you will find that the Co believes there are a number of targets to be tested including shallow oil and gas.
If production increases are achieved thru workovers then exploration could well be funded from cash flow. Have a gander at the expertise that they have gathered to exploit this asset, their cumulative experience in oil and gas is extensive and they have done their time in the region with the majors.

Suggest you dig a little further and let us know what you come up with.