Warnie,
as I said in my previous post, C13&14 REMAIN UNTESTED!
If only another 610bbl from C13&14, it well offsets the option exercises at 4c and 7c.
Option could bring $20m cash for CTR, you can work out fair value more than 10c per share if the option can be exercised!
8m net profit per year vs mc 9m, fair value 9c, page-4
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