Backreef estimated to potentially hold 45 - 117 million barrels....

Backreef estimated to potentially hold 45 - 117 million barrels. IF Backreef was a success and the amount was halfway then 80 million barrels. Assuming GRK takes the 20% option then approx 16 million barrels net to GRK. And if value this at $10/barrel then could be worth approx 160 million to GRK (versus a bit under 10 million current market cap). Similarly, the low and high estimate would be approx 90 - 230 million.

Having said all that, there probably needs to be some dilution factor applied for the fund raising