Understand the frustration but your definitely overly pessimistic mate. 1.6 cents puts us at 80m valuation. We have 10m NET boe reserves, worth anywhere from 500m-1b usd depending on realised prices, also think our gross reserves are higher which will also increase our values to bigger companies looking to take over that can develop the land cheaper then we can. Also management that isn't as ridiculously paid as you would think would not accept a 1.6 cent takeover offer or anything close to that. Any takeover offer would be based on the valuation of our npv, oil reserves and valuation of the land, it would not be anything to do with how the market currently values us (sp). Remember management are major shareholders, they aren't making millions on wages, their big payday will come from shareholder returns just like us. This is a rough hold but remember our market valuation doesn't dictate our resource valuation and also don't forget that while these wells do lose the majority of their production after 6-12 months they still act as nice little earners for about 2 DECADES, even if we develop the whole 20 wells ourself it will generate heaps of free cashflow after well payback and we can always sell the developed field as well.
BRK Price at posting:
1.3¢ Sentiment: Buy Disclosure: Held
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