volume 2- west tulsa announcement., page-25

WB

interesting work,

thank you.


You say:

"..RFE- total equity $ 46,254,896
NPV10 on 2P reserves $ 158,700,000
total $204,954,896 .."

I wondered what price you work on for 2P? Also what quantity?

The price could be the reason why the SP is where it is. Many "insiders" use a price of about $5 -$10/bbl for in ground 2P oil.

As an alternative, what value would you get based on realistic future production, based on say a value of production of $100k/bblo per day? (eg if a well produces 50 bblopd then the well is worth 50 x $100k = $5m)