analysis update, page-80

OGG,

For arguments sake let's say I agree with ur numbers.

U said :

Mkt cap $300m in 2015, that's a 300% increase in 4 yrs or;
Nite cap $800m in 2018, that's an 800% increase in 7yrs,

Remember this is assuming oil is at $90/ barrel - for a finite resource you would have to think this would increase,

This assumes flows of 150 boepd, although TXN produced 655 average over 30 days.

I believe the equation is of the form

Flow rate = fo x exp (- r x t ) + co
Where co is the final flow rate,
Therefore the component that exhibits 50% decay every 30 days is unlikely to be to initial flow rate...

With the 60 day flow this equation can be solved.

Finally, ur valuation does not include the vertical wells!

But hey if 100k goes to 320k by 2015, ill certainly not be complaining with a 34% return per annum esp as i believe this to be a worst case scenario!!