IPB's 'best guess' oil quantities are 68.8mb (low 19.8; High 159).
At $70/b = $4.7 B for the best guess. Even on the low estimate, it is still $1.38B.
Farmout likely to develop near term.
Present MC as of today is 3.5M. We can triple that MC and it would be still fair value pre-farmout.
SOI only 160.33M shares (4M options). The first 25 trades today put on 30% to the sp.
Price of oil rising quickly and most likely to continue.
Disclaimer: knee deep.
Short Term Trading Week Starting: 14 May, page-157
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