So two days ago I did something I promised myself I would never...

So two days ago I did something I promised myself I would never do again and bought some OEL. Personally I blame boysy1. So imagine my surprise when the shares went up. from 1.2c to 1.5c today. Anyway, the reason seems to be that OEL sold some shares and they added some certainty to the company. I believe they have added 10M to the balance sheet with the sale. The MC was 70M (@1.2C) and is now 86M (@1.5C).

So I wondered what $10M added to BYE balance sheet would do to the share price? ie Let's pretend that the new drill gives us 500 BOE per day for the next 12 months and they sold that future oil production today using futures. What would that add to the balance sheet and how would that effect the share price? So taking the prices from https://www.cmegroup.com/markets/energy/crude-oil/light-louisiana-sweet-lls-argus-crude-oil-trade-month-swap-futures.html# I created this spread sheet.



All disclaimers . Badgers are notoriously bad with spread sheets as their claws get in the way.