have reread the report and can make a little sense of the figures.
the future net revenues of all known reserves is USD35m, which equates to a present value of usd18.9m.
on an annual basis they project the net/net revenues to be usd7.4m for calendar year 2007 and usd18m for 2008.
with 70mil shares on issue this is usd10c per share this year and usd25c per share next year.
this does not include further share issues or new production. we should get a g0ood idea how they are tracking when the march quarterly is lodged.
if they are within 80% of their projections they are a screaming buy.
i would like to know what price they are using for oil and gas, but on their track record of keepng a low profile i would believe this to be conservative.
cheers
s. bin
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