Hi Sharks,We've disagreed before on this, but closing today at...

Hi Sharks,

We've disagreed before on this, but closing today at $3 in US has market cap of roughly $262M

30cps ASX would make it say $6 on Amex (going 1:1 exchange rate) and therefore MC of roughly $525M

If 1,000 bopd that values SSN at $525,000 per flowing barrel

If 1,500 bopd that values SSN at $350,000 per flowing barrel


The first is ridicously overpriced. The second is just way overpriced in terms of multiple using the flowing bopd metric.


Now I do think success at FP brings me to $6 because I see flowing bopd higher than 1000 - 1500 with the aggressive drill schedule.


Not ramping either way, but the metric is used often in shale plays and normally associated multiples just aren't in that range.