RE: RE: RE: VIK could ride EOG updraft.eom again, what you call cheap? VIK is not cheap compared to EOG. VIK needs to raise money to do work and get to EOG stage where they can put out a NI 51-101 report on their blocks. They need to give investors an idea as to if those blocks contain recoverable oil. EOG already shows a best estimate of 9 billion with 6.3 net, so even if VIK was to get 1 billion, then you need to multiply VIK market cap by about 6.3 to get a similar valuation (that of course doesn't take into account that EOG has the shallow drilling for Sharon therefore lower costs). Also, it doesn't even take into account 7.4 million onshore acres already farmed out.
I agree both are cheap considering where we are with Namibia, but EOG is cheaper than VIK, don't let the smaller market cap of VIK fool you. What I do like is that VIK will help to draw some western Canadian attention to offshore Namibia given it's base in Calgary