Hmmmm, NOXXE has produced 1600 barrels produced in approx 4weeks...

Hmmmm, NOXXE has produced 1600 barrels produced in approx 4weeks from 4 wells.

Here is some pretty rough thinking, with some assumptions to calculate value back to EMR:

Say on average 100 barrels per week, per well.

Assume they manage to get half of the 28 existing wells operating again at average 100 barrels per week/per well - translates to 1400 barrels per week, or 72,800 barrels per year.

Translates to revenues of approx $4.7m USD per year to NOXXE at $65 USD per barrel.

Say 50%(?) margin = $2.36m profit

31.5% interest to EMR = $750k USD PROFIT to EMR per year.

This doesn't assume any upside from more existing wells becoming operational, or further efficiencies from existing production, or further wells?

Beyond this EMR has their Gas projects in Kentucky and NW Alice....

IMHO after some more detailed research over the weekend, I reckon we have one seriously undervalued little producer here.... Suggest you DYOR also!