Absolutely, once reserves are defined, takeover are a certain, like every junior oil explorer.
Carnarvon Energy (CVN)sold its 10% interest of Dorado which is one of the largest offshore oil discoveries in WA ( with 171 million bbl) for $146 million usd dollars!
MAY got 30% interest of 362 million bbl onshore discoveries, MAY‘s 30% interest should be valued at least 932 million usd dollars( refer to the price of CVN’s offshore assets,we are onshore!), shareprice should be at least $0.37 !
Now the 362 million bbl coude be mutiple by X , according to the recent Ann
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