help

Can anyone answer some questions?

1. If they are getting 18 bopd net then they should be getting $700, 000 per year income. But this does not show up in their half yearly?
2. What are their total expenses per year ignoring exploration?
3. Ignoring money spent on exploration, is this company running at a loss of $400,000/year?
4. If they do a successful CR and get $3m, the lake goes well this year and gets them$1m/year, Sombero goes well and gets them $1m a year, they will be running at a $1m/year profit (not including exploration) with $3m in the bank and 1.2b shares and 0.8b options. 0.5c/share would value them at $6m (ignoring options), which is probably a fair value - $6m for a company with $2-3m in the bank and making a net profit of <$1m/year (and is spending $1.5m per year on exploration).

So seems like Barnaby did a good job of getting the CR underwritten at .5c. If Sombrero fails he may need to do another share consolidation.

Rumot