WTI is over $120.
Someone correct me if I am wrong, but for anyone panicking about options conversion in the next few weeks, and using figures from May 22 investor presentation, we are value at:
With all options converted, we have approx 4,998,000,000 shares on issue. At a price of 0.017 that gives us a value of $84,966,000.
We had $17,700,000 of cash and will obtain another $15,741,000 from conversion, putting the value of operations at (ie excluding cash) $51,525,000.
Now, given our cash flows and the current oil and gas price environment, this is a very cheap investment. Even with a share price of $0.034 (double the price now) we have an operation value of $136,491,000. Still presenting a value opportunity.
Again, correct me if I'm wrong.
Banter and General Comments .. BRK, page-4676
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