Assuming success on the 3 wells in question and not taking into account any potential upside on the other wells to be drilled as part of the program, BUR has a dicsounted NPV of 20-24 cents. This is based on average gas prices not increasing, which I believe we all think is to be expected....
I tend to agree that a capital rasing will be required BG, but I don't think on a 1:3 basis.
Its only a matter of time before BUR gets back to 12.5 cents and beyond.
21 cents
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