Hi Jordy, I was debating what would be required for us to find oil wise to get to that 1 dollar share price and came to the conclusion it would be approx 4 Billion barrels found by the JV I.e approx 25 cents per billion barrels found. See post:
http://hotcopper.com.au/posts/17087526/single.
I think 4 Billion barrels is possible but we need to last a bit longer before a TO to prove this up. In a TO the buyer will try to buy at a discount to this value but offsetting this may be any unproved assets we may have.
Hope to see how well my guesstimates come out in the near future.
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