RE:RE:RE:Holy smokes!When you include the $400mil in debt Kelt has, that gives them an enterprise value of $1.1bil. If PIPE can keep it's debt to around $150mil while growing production to ~24,000boe/d exit rate for 2020 we could see an EV of $800mil by year end. $800-$150=$650 mil, $650mil divided by 200 million shares equals $3.25 per share valuation. However if PIPE can be more profitable than Kelt, that earnings multiple might be a better driver of PIPE's share price. Kelt's netbacks were only $15.70 per barrel.