Ann: Commencement of Battle Mountain AMI Drilling Campaign, page-3

"How do we value something if we don't know flow rates, number of barrels per day etc."

stoker1, I read that announcement to mean that whilst GRMR have designated the 3 well program to be "tight holes", they are cognisant of ETE's ASX continuous disclosure obligations and will allow enough information through that will enable investors to get a handle on the outcome of the drilling program.

Because its been a few (long) years since the jv deal was struck in 2013 until now, with a oil price meltdown in the meantime, the highly attractive free carry that Entek negotiated with GRMR for the three well program has been overlooked by all but the true believers.

ETE has $7m cash in the bank and hence is on an pathetically low EV of $7m going in to a free carried 3 well program with an very experienced operator aiming to prove up key acreage in the Niobrara. As well, they now have full ownership and access rights to highly prospective acreage on the Niobrara fairway at Focus Ranch with a plan to open up and test an existing well, plus a gas carrying pipeline asset.

With a sniff of drilling success, it's not hard to envisage the Entek market cap going a lot higher.
Good luck to all long term holders.