Well first of all I'm not specifacially telling you anything as this is a public forum.
As to why it is overvalued. Current mc is 130m.comapny has 20m cash 20m debt pretty much cancel each other out so ev of 130 is for the ice wine tenements. I don't see that value in the asset at it current stage. Personally I don't ever see it producing economic oil unless the price gets back over 100 usd. There are a lot better oil tenenments around that ice wine.
I be very interested to have a solicitor look at the boa funding arrangement.
But as you stated your very confident in your investment decision so pay no heed.
Melbourne 88e'rs, page-206
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