$3.8mil as of June, they cant include money owing in that amount, money from gas sales is delayed. so there is stil $1.2mil ~ of cash on its way from that period.
up to $2mil of posible sales revenue over next 3 months from existing wells.
If you say $1.5mil will be spent over next quarter, and more than that will come in gas sales, as well as money still owing from pervious quarter then BUR will have more money in 3 months and posibly a new well providing gas so is going to be in a stronger position.
So why are you dividing $2.5mil by the shares? lol
What about total recoverable gas from first 2 wells, as stated in preivous ann value is the same as BUR's current stock price, not factoring in total gas from last 3 wells and new well being drilled.
So as bur is looking now to be able to fund itself and future projects how do you come to the concusion it has a high risk of going bankrupt??
Its book value has to be up to 40c by now.
BUR Price at posting:
0.0¢ Sentiment: ST Buy Disclosure: Held
