What people never mention/factor in is that there needs to be a...

What people never mention/factor in is that there needs to be a takeover offer for these prices to be realised. So until a firm offer is on the table we will always trade at a discount to these theoretical prices.

Whilst I agree the current SP is undervalued, I cant see the price increasing over 100% (for a SP of $1.50) in the short term in the absense of futher significant positive news.

If you are confident in the companies prospects and believe that we will eventually move up the energy co 'food chain', place the shares in the bottom draw and wait for pay day.