Just working on from that,
if there they strike oil and it is the mean amount of 270m barrels, the in ground value might be around $2-$5 per barrel, as has been mentioned by another poster. At $2 this would give an in ground value (IGV) of $540m. Divide that by the number of shares 400m, and you get $1.35 per share. But that is only after step out wells are drilled, which takes considerable time, and which means the share price will probably be nowhere near that until this is done. So 20c would be a good result if they hit oil, unless its a real gusher.
Just working on from that,if there they strike oil and it is the...
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