vin123, good question (albeit one with no 'correct' answer as we...

vin123, good question (albeit one with no 'correct' answer as we know none of this is a perfect science).

I know Adriano was suggesting 1000boepd would be required/expected for a $100m market cap. They were talking 5c in that thread, but lets conservatively call it 4cps (as that is closer to $100m anyway).

Break that down (if you feel comfortable doing it in this manner) and each 100boepd is worth 0.4cps.

that is my take on it, but tbh i feel it is a bit like playing darts blindfolded and facing the wrong way. too many unknowns (NRI of each Birch well, when the 3 farm-ins go into APO stage, decline rates, colorado, etc). The upside is finance imo, it will allow continued drilling in Texas, and a slow but methodical process in colorado. 680boepd looks like it can be replicated in Texas (and if the NRI is 22.5% then it is net about 150boepd to AKK). Not too far off 500boepd at the moment (a couple more participation wells i think) so if you want to use 0.4cps per 100boepd then AKK is fully valued to that level (but no valuation on future drilling)...