Too good to be true!, page-70

Hi Gotta,

As always, I appreciate your viewpoint and commentary but, if we're being picky.............

Whilst I'm aware that one can't average percentages, I was referring to the average percentage COS between the oil and gas being 35% - well below 50%. (42% +28%= 70% /2 = 35% and no, I cant be bothered working that out on the total values to get the correct percentage). I'm sure you understand the point.

If we include the options and performance rights, the total number of shares will be 577 million.

The amount of remaining working capital ($4 mill) after drilling ($6.15 mill), plus about $1.2 mill for the options, will be $5.2 mill which equates to = $0.009 per share.

If nothing of commercial value is found, the current share price is well above the cash backing.

The point I'm making is that if no strikes are made, then no-one is going to rush to buy PVD because they've done the numbers and they don't stack up by paying over the cash value now.

Personally, like you, I am very excited with this agreement and I consider the COS percentages very attractive for the input of cash and work from PVD. If there is a strike with either gas or oil, the share price will blast off to levels we never dreamed about.

Mind you, I have started dreaming about it during the past week.

Cheers