RE:RE:Stab at valuationI do not know where your valuation calculations come from.
A quick one ~500million barrels contigent resource. Value of this barrel is $0.50 to $1.00.
CGX has 22% interest in the block.
So a market cap = .22 x 500 x 1.00 =US $110 m
shares outstanding 338m
NAVPS = 1.35 x 110/ 338 ~ CAD $ 0.42
Only way up is to convert contingent resources yo 3P then 2P then 1P. All that requires capital which CGX doesn't have and cant raise as no trust/confidence in mgmt.