I count 18 wells on that last update. If they each average 400bopd that's 7200 bopd. At $100 per barrel that's $720k per day. But say our net revenue is on average 22% (I know, not profit but for the purpose of the exercise) that's $160k per day. 300 days assuming some downtime, gives us revenue of $48M.
Most likely will happen over the next 12-18mths.
Thats only 1.5X our current MC of $66M.
Alternatively, if you work it out on $40 profit per barrel, assuming profit takes into account admin expenses (as one would expect the meaning of profit would). Then that is profit of approx. $19M - only 3.5 times current MC.
We could certainly be north of 15c even on a very very conservative PE ratio. Not a bad punt.
SSN Price at posting:
2.6¢ Sentiment: Buy Disclosure: Held
