Petroglobe Inc. PTGBF

This seems stupidly cheap

[jon8034]

If my math is correct, approx 163 boe per 1 million cubic feet of natural gas at 50.00 per barrel works out to $8,150 per day of revenue per million cubic feet of gas at 1.4 million cubic feet of gas is 11,410 per day times 365 days per year is about 4 million dollars per year. In addition they have 3 million cubic feet per day for another 8 million per year. Ignoring the consulting revenue because I do not know if it will continue or not this gives 12 million per year in revenue with more wells in Alberta definitely coming on line and probably more production in Texas. Assume 4.5 million per year in operational expenses that yields 7.5 million in annualized earning within 6 months at most. Right now we are trading at a market cap of about 39 million fully diluted or what would be just under 5 times earnings assuming NOTHING else comes on line. However, it is reasonable to expect that more will be coming on line in Alberta where they are making slow but sure progress. If Texas can prove up another well like the first one in addition - a lot more very quickly. This is all with basement prices on natural gas - should natural gas go up by 50-100% (not unreasonable over the next 12 months - could happen overnight if we have a hurricaine). Unless my math is wrong, this looks like a slam dunk. Anybody else have a different metric to work with?