There are several considerations:

Capitalisation = Share Price x Shares on issue. Currently, 7,100,000,000 shares on issue x $0.023 share price = $163,300,000 capitalisation

Lets say, the drilling shows 400,000,000 barrels of oil to 88e, which is valued at $3.50 per barrel, then 400,000,000 x $3.50 = $1,400,000,000

Reflected in the share price = $1,400,000,000 divided by 7,100,000,000 = $0.20

But there also other assets, such as: HRZ, Yukon, and other.

In essence , it is the value of the assets, valuations vary depending on the technique employed, divided by the shares in issue. However, there is usually an overshoot in the price due to: competitive bidding, heightened expectations, and emotional factors. I would expect a price range between $0.20 to $0.50, clearly depends on the drilling results and subsequent valuation.

The constraint on the share price going ballistic is the number of shares in issue, but $0.40to $0.50 would be good for me.

Bos