high island well, page-2

When GRL did the deal their share price was approx 25c.
Say 30m shares issued thats $7.5M paid for the deal.
Target size 38BCF.
GRL have 30% Working Interest, not sure what Net Interest is.. say 20 to 25%
Say discovery = 10 BCF net to GRL
Is 10 BCF worth $7.5 million?
Easily.
Multiples thereof, perhaps 4 to 5 times that.

And it already looks like a commercial well.

Be careful though, this stock trades like noone is interested, and you have to wonder why. Is this just market inefficiency, or just the liquidity issue... There doesnt seem to be much insider support...?

AC