Assuming a worse case scenerio,
Based on published P90 reserve of 10 million for Puffin NE, at 10k barrels/day...The company should prob be capitalized at about 300million or so?
(PPP 5k/day production and about 5 million in reserve, market cap about 150million)
Obviously excluding any upside from the rest of their exploration program.
So a worst case sp of about $2-$3 bucks...
bearish news finally over, page-23
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