still early in trend, page-11

I would say worry about the placement in a week or so. Will probably bring the sp down a cent or two but this will probably be over 30c by then.

What I like is the 39c valuation in the report. Could easily be this by the time we reach first target. I thought this was a buy up to 30c but I'm happy to defer to the experts.

To the chartist, forget the charts. Report puts a find at US$8 per barrel. 190m barrels to TPT should therefore give a mc of AUD1.6bn. Go figure.