Value of Arcan This is a an estimate of the true value of Arcan and explains why Crescent and Petrobakken have a handsome stake in our company
Booked reserves 35 million
Price $25 per barrel
Less net debt 318 million
Value after debt 557 million
Shares outstanding 97.9 million
Estimate value $ 5.68 per share
Don't really believe we will be taken out at that price but somewhere between $2.00 and $3.50 is realistic in the very near term.
Be darn sure crescent and petrobakken do not want to see our SP dissolve any further and an offer will be made soon.
JMO Kingfish