Incredible value here imo.$14m MC with $9.1m cash after the shortfall was placed.$5m EV makes the current EV for barrels of oil based on current reserves extremely cheap! In the corporate preso it is like 11c a barrel! LolLongreach committing big dollars to the RI to go to 62% and Lowell Fund coming on board through the RI shortfall is huge.Very tight structure and I'm sure Lowell will also be a buyer on-market and eventually go sub.Once the loose retail stuff is absorbed I see this bouncing back up very quickly. Structure is too tight and little retail involvement it seems.Easy buy and hold at these prices imo. Third biggest volume day yesterday cleaning out some of the deadwood.
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