With a share price fast approaching 5c and approx 510m shares on issue,the market cap is now around $25m.
With approx $10m in cash(last quarterly)it leaves only $15m for enterprise value.
Using that $15m for the niobrara assets only,the market is valuing enteks acreage position at approx $270 an acre and zero value for the gulf assets.
If some value is put on the gulf assets then the niobrara assets are currently valued at less than $200 an acre.
The market is always right.
Best of luck to all.
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