BRK... a " thesis"... err almost! part 2, page-11

Hi @40Beers

Please refer to the reply to hogesjzz30 on valuing reserves in ground and not applying a price per barrel oil. A barrel of oil may sell at US$ 80, but a BOE of gas converted to an oil equivalent depends on the gas price. The basic rule of thumb is 1 barrel of oil is equivalent to 6000 cubic feet of gas in financial terms. So at US$ 3 per MCF ( 1 thousand cubic feet), a BOE of gas sells at US $18. If your production is 50%oil and 50% gas, using $80 oil and $3 per MCF gas, your BOE would sell at ($80 + $18)/2 or US$49 per barrel.

Agree, all things being equal, we should hopefully be trading above 2.6 cents, but as Mr market teaches us, there is share value, and then there is share price.

Will be great to share a few ales at the next AGM.

Cheers

Dan