what's it worth ?

I've put some points down ... I would appreciate if anyone can correct any of the possible errors in my logic ....

At this very moment in time ....

* 237.7 million shares are on issue

* Current share price is AUD 10c each

* This means a present market cap(MC)of AUD $23.77 million

* PSA have at least AUD $26.5 million in the bank

* Value of Producing assets included in MC $ZERO and there is atleast three years of Marathon to go .... not to mention Main Pass

* Value of exploration assets included in MC $ZERO ... and these are company changing "big beasty" opportunities.

Whilst we all experienced today the disappointment/setback of reduced reserve values on Marathon is it sensible to value a share holding at such an obvious discount ?

Whoever buys at these prices is buying a bargain ....