Davo22, you are the one who comes up short on the
numbers.
264BCF of 2P reserves @ say $2.25m/BCF = $600m
Number of shares fully diliuted = 303m
THEREFORE $2 PER SHARE.
Say 2P reserves get to 400BCF, then share price $3
So, Kiwik's calculations are reasonable, so rack off!!
And to those people expecting a capital raising soon, WRONG, their existing lenders have agreed to extend the current line of credit to $50m(if required).
AND I SO ADVISE!!
