The valuation of $1.00 per share on success at Mc Gall # 1 is good, and backed up by Petsec's valuation of their proven reserves in their interview with John Campbell. ($5m/ BCF in the ground).
The market must then take a serious look at success at Rayburn (500 BCF) and factor in some blue sky for this prospect over and above Mc Gall.
Should trade well over $1.00 when MC Gall comes in.
Could be news later this week.
I Love these Wilcox Sands.
did you punch the craap out of the calculator, page-2
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