To me this seems like a no brainer! Let me see if I have this right: After PP we will have ~80M shares o/s @$1 for a $80M mkt cap This gets us 35% of $230M in capex or ~$80M So we basically get for free 1) 35% of the sunk costs or $37M 2) 100% financing 3) 100% of 2012 & 2013 earnings 4) 75% of 2014 & 2015 earnings 5) 50% of 2016 earnings 6) 35% on earnings thereafter on this tiny prospective recoverable oil resource of 27.5 billion barrels Amazing!
BKP Price at posting:
1.2¢ Sentiment: Hold Disclosure: Held
