As a holder of this company for around 6 months, I must say it...

As a holder of this company for around 6 months, I must say it is quite disappointing to see where we are currently valued.
Everybody here knows that fundamentals are extremely solid and if things continue to proceed as planned then there will be an eventual increase in MC, however the capped SP at current levels is probably directly related to the options still on issue, along with disgruntled holders who like most of us, have been holding on expecting a rerate, only to be even agitated with the latest raise.

SOI + options are high, although in 12 months from now when all those oppies expire or are converted we might be looking at a completely different valuation of the company.

The rerate will come in time over the coming 12 months, however management pissed off a lot of people with the free oppies. After consideration, I believe that they would have organised the latest CR with the exact contract as the prior raise (free options attaching). This was likely to just skip the headache of drawing up new share contracts and to expedite the process to secure the drill rig - albeit at the cost of causing the SP to stagnate and holders to probably sell and move their funds into other stocks.

I think at this stage it seems reasonable to take into consideration @danpech's previous comments on the business plan of BRK which is to monetize the PUD's in the SWISH AOI for acreage value, opposed to strictly looking to make sole profit's from sales (which are going to continue to increase dramatically over the coming months anyway, not to mention BRK increase in working interest in each well as they generate more profits. Let's not forget that Exxon are involved with Jewell and could very well be involved further down the track).

Let's see how Rangers performs after drilling is complete with the massive, modern and powerful Kenai Rig 18.

The fools over at 88E has probably also had a negative impact on BRK with their cruddy and poorly executed everything they do.