Ann: Investor Presentation - Developing Colorado's next major Oil, page-10

A few more little observations
Producing 100bopd
We know they bought 55 bopd
So Horizrontal well c11 and Magellan TOGETHER are producing about 45 bopd, less than a year later . Impressive lol

The 1 and 2 p reserves ( which includes gas value - why I don't know ) has an NPV of 14 m USD God knows over what time frame .
Now we know it will take circa 11-12 m USD to drill there 11 wells in capex and corporate costs . Current EV is 8.5 m so how does spending 11 M USD plus 6 m USD current market cap = value creation. Especially since the NPV figure is probably a 10 year NPV calc