NSE purchased PEL 570 from Outback Hunter through the recent...

NSE purchased PEL 570 from Outback Hunter through the recent deal.

According to the EGM documents, NSE paid

1) $0.2 million cash for back costs
2) $3m cash to OH shareholders
3) issued 15m NSE shares (notionally at 16 cents) =$2.4m
4) $1m over 10 equal installments

This totals $6.6 miilion for the 52.5% equity.

However, NSE has also inherited a $42.5 million carry on the farmin with Ambassador, which was signed back in August 2013 by Energy Hunter.

So, NSE's total commitment to the block is $42.5 million plus the $6.6 million from above which now totals $49.1 million for 52.5% of the block

This block looks attractive, but.........

Therfore, What is PEL 560 worth???

Discuss.

Cheers, Al