running again. bounce!!!!!!!!!!!!, page-4

Longreach Oil has a 22 per cent shareholding in Brisbane Petroleum NL and noted any commercial oil discovery in the Yellowbank Creek area would be of benefit to Longreach Oil. 5.2 mill barrels to be can be recoverd

i don't think the market get it's yet!

If brisbane has a 50% interest in epl 18 and there is 5 mil barells and LGO have a 22% interest in brisbane wouldn't it go like this......

5 mill barells x $50 = $250,000,000
$250,000,000 x 50% ( brisbane share) = $125,000,000
$125,000,000 x 22% (lgo share) = $27,500,000
Then if we divide LGO shares into the above

$27,500,000 / 171,000,000 = 16 cents per share!

Hope so....should be a good open tomorrow