cash position, page-53

Good Oil once again you gloss over everything and do the raw calc on the specific and the NP figure at that. Just a couple things to point out:
1. A Co which is producing 1000 bopd initially in the markets eyes is considered a junior producer, but what you forget to mention is (a) No future requirement of share dilution/CR. (b) The buying power the Co will have to secure additional opportunities because they are cash flow positive, not too mention the Goodwill this will create in K. (c)Investors like Co's that are financially secure (d) A rising Oil price due to the increase in demand

So according to you then CVN which the last time I checked had a market cap of around 400 odd million and was roughly producing 3000 bopd with net sales of around 16 million should be trading at 20c.
Like I said before your statement is laughable and I suggest you do some reading on the Stock Market and understand some basic fundamentals.