great value, some numbers Stuart OilShare Price $1.02Market Cap...

great value, some numbers Stuart Oil

Share Price $1.02
Market Cap $63 Million
Shares and Options 62,540,000
Cash in bank Around $4 million
Oil Reserves 3.2 Mmbbls
Oil price currently A$70/ bo

Monthly Production 100,000 bo

Monthly Profit till 30 June 2005 @ costs of $30/bo

35000 bo hedging @ $36 $ 210,000
10000 bo hedging @ $50 $ 200,000
55000 bo no hedging $2,200,000
-------------
Monthly profit till 30 June 2005 $2,610,000

New hedging 1 july 2005
------------------------

Monthly Profit till 30 june 2006 @ costs of $30/bo

21000 bo hedging @US$27.02 $ 105,000
79000 bo unhedged $3,160,000
------------
Monthly profit till 29 june 2006 $3,265,000

Financial year 2005 -2006 possible Profit $40 Million!!!!

Please note: the above is only possible weather permitting and Oil prices at todays rates, and production rates at 100 000 bo/monthly.

Looking at the above figures Stuart can make a profit in the next 18 months of todays total Market Cap.

Any upside value from exploration has not been added

Stuarts proven oil reserves of 3.2 million barrel in the ground should be worth around $32 million

First Exploration Well being drill next week potential of 2 mmbls in situ Stuart 75%

Up to 15 Exploration Well to be drilled

I see lots of value in this little company and dirt cheap at todays prices.

jojo