Ann: Operations Update, page-320

Tossed the coin and tales never fails so I’m in for the ride.

it’s very difficult to understand the potential value, new to oil stocks and have been trying to plan an exit strategy.

Assuming 88e announce an oil discovery tomorrow or Monday

MDM Permian with much smaller oil find and smaller market cap had massive gains as follows:

0.02 pre announcement
0.94 at peak which is 40x:

March 9 - 0.02 usd
March 10 - 0.25 (12x)
March 11 - 0.50 (25x)
March 12 - 0.59 (30x)
March 15 - 0.41 (20x)

Now settled around 0.22 (market cap $55m) MDM have
8.6 million barrels so around $500m retail

88e sit around 650 million barrels of oil x $60 = $39bn retail divided by 2 as its shared

12 billion shares Imo with the hype and potential size of this thing, maybe I’m naive but surely we could easily see around $3-4b market cap which 12.5b shares is $0.30 odd cents plus spikes, potentially 50-60 cents

Am I In the clouds?