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!
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- 8m net profit per year vs mc 9m, fair value 9c
8m net profit per year vs mc 9m, fair value 9c, page-4
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