Davy BoyFurther to your post, CNE state SNE cost $US35 per...

Davy Boy

Further to your post, CNE state SNE cost $US35 per barrel, so lets use $US45 per barrel

then

365*13700*40/0.73 =    $Aus 274,000,000.00

and present value factor of an annuity over 15 years only equals 7.606079506

multiply by 274M equals   $Aus 2,084,065,784.73 NPV

and divide by 5.462B shares on issue equals 38 cents per share

as a check, running same numbers at $US70 per barrel (ie 365*13700*25/0.73) equals 24 cents per share,

which is comparable to a calculation using CNEs $US10 per barrel NPV @ $US70 per barrel oil 2C recoverable.

So agree current sp is crazy.