2p reserves, page-9

I remember someone posted on HC not long ago that a US rule of thumb for valuation of oil companies is about $100K per barrel of oil daily production. That is probably a good estimate using AOK. Today's smh article said it has a market cap of about $30M and it has around 300bopd production.

ELK has been producing about 150bopd and it's market cap has been around $10-$15M over the last few months.

We should be getting an update on Ash Creek very soon. If production from trussler 1 settles at about 40bopd and with 3 more workovers to come before winter we could also get up to about 300bopd total. That should equate to about $30M or 30cps (pre dulution) with no value for Grieve.