RE:RE:Big Picture Napkin Fun...Conservative estimates...
However, dilution has hurt CGX.
I have a good contact in another small oil company. These are long term oil guys looking for a Super Bowl type win and this basic calculation is what they use to set a certain level of expectations for their properties. They are in the oil property business not oil production business. I view CGX as such, and FEC maybe not so much, but considering the connection to the VC, maybe also...
They use $5USD BOE, I was being a little more conservative, don't want to jinx anything or be the pig...