Following a Burleson investor presentation while YP1 was being drilled,Mike Sandy ventured an opinion-repeat opinion that each successfull gas well drilled and going to production would have a genuine value of 8c/share.This is allowing for depletions in flow based on historical data.On this basis then it depends entirely on where you have a starting point.
I favour a starting point of 16c which allows for capital on hand plus mosest potential factor.This makes for a today price of 32c.
Extend the argument for another 5 wells and you have a multi bagger going higher.
Definitely a bargain
Following a Burleson investor presentation while YP1 was being...
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Mkt cap ! $20.30M | |||
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