ELK elk petroleum limited
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reckon fair value at present should $1.30ps, based on 10% of the...

  1. charliethebull
    403 Posts.
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    07/05/08
    10:52
    Post #: 3677844
    reckon fair value at present should $1.30ps, based on 10% of the 3P certification.
    At $1.30 our market cap is 80mil
    Estimated reserve value- 19mil barrels of oil @ $85 is 1.6billion
    10% of 1.6 bil= 160 mil divided by (JV) %50 gives us $80 mil MC
    (estimation not including any capex or opex)

    Any thoughts?

    cheers ctb
    ELK Price at posting: 0.0¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch.  Upvote
    lightbulb Created with Sketch.  Great analysis
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