Re exit strategy, and yes you should have one, typically for first up oil or gas play you want to be free carried for the drilling. i calculate bnl sp post permit to be .07-.11 based on 10% of P50 estimate @ $280/mcf, this target should be realised somewhere after permit up to drilling, However this a helium play so there are some unknowns like helium price which could be up to $350/mcf at the moment. The rest is up to how much risk you are prepared to carry for the drilling results, first holes rearly hit P50 targets. But if it does, well, happy days, excuse the pun. Check out some other oil base stocks on pre drilling and post drilling spikes to get a feel of what can happen to gauge your risk appetite. 88e is a good one that comes to mind, however note it's an oil stock not a pure helium play.
BNL Price at posting:
3.3¢ Sentiment: Hold Disclosure: Held
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