Well if you look at past presentations from both ITC and VPE......

Well if you look at past presentations from both ITC and VPE... they are looking to prove up a field in the Western Fairway of 100 million barrels of oil with anywhere from 12 up to as high as 40 million barrels recoverable in some reports recoverable....

So lets work on the above basis at an oil price of $80 (this is not what is generally used oil coy valuation but for these purposes it will be suffice) so ....

LOW END
12 000 000 * 80 = 960 000 000 net to impress of $384 000 000 or around 40+ cents per share

MEDIUM END
25 000 000 * 80 = 2 000 000 000 net to impress of $800 000 000 or around $1 per share

HIGH END
40 000 000 * 30 = 3 200 000 net to impress of 1 280 000 or around $1.6

However it should be noted when valuing oil companies you would be more inclined to use a longer term avg oil price of around $20 to $30 us dollars depending on the valuer...

Therefore use the above numbers as more of a dream of the cashflow which could be created from a field that size...

Sounds good to me LOL but a dream is all it is for now..

ALWAYS DYOR