Can someone let me know if my minimum $10m revenue to EMR makes sense, as this should fly if that's the case. And that's just for $25m worth of wells. Let's assume $10m pre tax profit for now, as costs would be minimal. A multiple of 8 throws up around $1 already ignoring any options dilution, and given these are long term producers, 8 is not a silly multiple.
If this adds up, I would expect another reasonable rise to between 20c and 30c once the deal is understood over the next few days combined with some reasonable drilling results, then a large rise on confirmation of funding.
Just seems to good, so still looking for holes
big thinking, page-16
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