sellers finally beaten, page-9

On a company valuation of US$250mill, (AUD300mill) and with a PE of 20, earnings need to be $15mill per year, and therefore revenue probably needs to be around $25mill/yr.
To get to $25mill revenue/yr we may have 1.5bill shares on issue, so share price will be 20cps.

Personally, I think AUD300mill is quite wishful thinking and would expect more around $150-200mill. We have had quite a few wells drilled now, and really only had 1 gusher, and the other two have been considered just commercial. Let's get 5 gushers around TB-07 and then things will be really looking up.

On a current investment of 3c, it would be very hard to lose any money if the share is held for more than about 2 months. I'm hoping 6c+ by the end of the year.