I'm as excited as anyone with the rise in SP and all of the TA...

I'm as excited as anyone with the rise in SP and all of the TA of resistance and support....

BUT

at 2.0 cps I have an estimate Q3 flowing EV/BOEPD multiple of $195,918 - for a company that would still be in the red on EBITDA basis and EV/1P around $31.54/boe. Getting to be rich multiples despite growth rate.

I could see it spike to 2.3 or 2.4 with flow rates and tie in to production being announced shortly but it has to come back a little (may 1.9 is the resting place?) for the very obvious (IMO) major spike after Q4 where they should have +VE EBITDA!!

Projecting around the $126K mark for EV/BOEPD multiple.