Umm ... surely you mean share consolidation (& not...

Umm ... surely you mean share consolidation (& not 'split')?

Technically it shouldn't matter either way, as to get to 10c with current cap structure would mean a market cap of $150m. Will we make it? Your guess is as good as mine.

However to have a stab using a conservative P/E ratio of 3, then $150m/3 = $50m earnings. At say $90/barrel and 330 operating days /yr = approx 1680 barrels per day.

If using P/e of 5, then = approx. 1000 barrels per day (figure sound familiar???)

If using P/E of say 8, then = approx. 630 barrels per day.

High level of course, and opex has not been factored in, but hopefully gives you a sense of why this find is exciting the likes of Tui and others who are saying a 5 bagger is a very real possibility (and not just a ramped hype or pump).

DYOR - my thoughts only, and you should check it out yourself.