Rafish,
Very Good posting, only thing your friend didn't account for was the change in the T2B structure around the J-52 well since 2012, which is a large part of the reason why the reserve figure dropped, even although J-58 is included to some extent in the new calculation. The recovery factor used accounts for the rest of the change.
As for valuation's I don't think the $1.2 Billion would be allowed to happen, someone would surely take us out long before then. We might of course have found some more oil by then in one of the other prospects to!!
Either way totally undervalued as far as I'm concerned.
LOTM
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Mkt cap ! $37.14M | |||
| Open | High | Low | Value | Volume |
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