flax field, does it matter?

So we have a great deal of clarity around INPs cash position namely 5.5 cents per share, this leaves 2.6 cents per share worth of other stuff at Monday 3rd's close.

Companies like this are very hard to value but what we can do is attribute a realistic value to Flax Field right.

In the last update they state that INPs production share was 2,275 barrels of oil for the quarter so making very simple assumptions:

9,100 per year
A flat price of $85 per barrel of oil forever
10 years of production
Zero growth in either price or production
8% discount rate

= PV of $5,190,248 which would be 2cents per share, BUT how much of this does INP keep after expenses? Is the cashflow from Flax even relevant or does it not even cover head office admin costs?


Can anyone help build out this thinking and see if we can ascribe some value to this company and identify where the potential is / or isnt ? ie are the current assets well priced now, and the potential for growth is from the exploration deal with AGL, or is that basically worthless? Do all the hopes rest on Trefoil and Rockhopper? If so what news events are important in these developments, couldnt it be months before they even do anything?


Always interested to hear your thoughts,
Thanks