Value post appraisal, page-2

That puts a value of $US 3.10 Bbl on our 49.5 Mmbbls share if they convert from 2C to 2Preserves, also worth noting they are using BOE not BO that should put a premium on any figures used for FAR as the SNE 2C is oil only..

Lets see 49.5 Mmbo x $US10Bo = $US495Mil x1.45 = $AU717 Mil
Now 49.5 Mmbo x $US15Bo = $US742 x 1.45 = $AU1.076 Bil

Of course if SNE proves up at the high end as expected then the above gets even better not to mention what may be found at Bellatrix...the $ US is making a sale of some or all assets a much more tempting option after appraisal given raising money will become more expensive...

Early days but given successfull appraisal $US 3.10 Bo 2P does make us look cheap with no debt and cash for at least 2 of the appraisal wells....

Cheers Whisky