Management will not accept any T/o offer until the true extent of SNE is defined, and you all know how big I believe that is.
We need at a minimum another 3 wells, 1 for Sirius, 1 for Soleil and 1 as far to the East as they dare based upon the new depth mapping. So I believe we be drilling ASAP.
Once that size is confirmed say 2c 1.5 billion barrels times in ground value say USD 10 per barrel times 15% converted in AUD at 0.75c = Market cap AUD 3.0 billion or approx 70 cents!!
Hence one has to be very careful at not agreeing to a low ball offer from say WPL etc, it is not often such a discovery is made.
News flow must be soon.
RBC Capital Markets on FAR, page-42
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