RE: RE: MEL Lets see.. MEL 13 mm 2P oil, 19 mm 2p BOEs with takeout at 440 million about.
BXE market cap of 557 million about
Lets use gas at 1/10th the value, not the normal 1/6 value, so MEL has 13 plus 1.9 = abt 15 million boes for a valuation of $29 a boe in the ground as 2P.
BXE has 25 mm bbl of oil and 67 of BOEs NG, so using the same 1/10 valuation that is 25 plus 6.7 = 31.7 total BOEs..
so, multiplying 31.7 mm X $29 = 928 market cap for BXE(takeout comparison).
That is 928/557 = 1.6, ie, BXE is priced at a 60% discount to MELs takeout price. Thus the price per share could be $8.32 right now.
And as we keep growing and proving up more bbls, it will be higher.