AutoCB reserves 3mbo 2P @ $27/brl = $1.20debt estimate $9mil =...

Auto
CB reserves 3mbo 2P @ $27/brl = $1.20
debt estimate $9mil = ($0.13cps)
unissued equity $4mil = $0.06cps

Underlying value $1.13cps

Bazzard ~P50 reserve target 40mbo, STU 50%, $20mil drilling cost

risked at 15% POS = 84cps

discovery value $5.62

I think the sp should run to $1.50 pre spud with little downside risk if you're accumulating ~$1.00.

The refinery project is perhaps not fully understood by the market (including me) and might be weighing on the sp.

Lot of eggs in the Worrior basket may also deter some from putting too much into STU.