I dont claim to know. But when KAR was in the exploration phase i.e. before Poseidon-1 or any proved asset, there were estimates based on 3d seismic info. Based on that KAR had 40% of around 7TCF, and was valued at around $400million with jack proven....
The market works in weird ways, there are lots of variables not just maths. Certainly the delays did not help the cause of SP rise, or perhaps there is some sort beleivability factor in management of companies that the market sector factors in. Who knows but lots af variation that ultimately realizes todays price of a stock.
One thing for sure, no liquididty in this stock = means that if we dont hit pay dirt then we all will sink together...
If we do hit pay dirt then there will be lots who would want out, seeing there is plenty more (time to do to prove up assets so that CEL price stabilizes.
Im just very bad at picking stocks, and it has nothing to do with doing your maths.
I dont claim to know. But when KAR was in the exploration phase...
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