Not as good as i thought Main area of concern is proved producing reserves has dropped from roughly $73,000,000 on last year's report to $52,000,000 in this year's report.
Now the main reason is the drop in oil prices on the report but bottom line is they now have more debt than proved producing reserving between LOC and debenture.
Someone with some dough should buy them right now at this price and they would likely swing a large profit over time but I still see Exall's cash flow as too stretched to ever bring this value to market.
P plus P at 10% dropped about 25% year over year. Last year's NAV was about $2.47, now about $1.69 but reality is that is angel dust because no one pays for probable reserves.