ValuationHave a listen to the radio interview from December, 2013, posted on the Petrolympic website:
https://petrolympic.com/index.php/investor-center/media-analyst-coverage
At the 8:30 point of the interview Mendel talks about extracting oil and gas from conventional oil plays and how you need to extract oil to help make the production process economical. In essence liquids (oil and natural gas liquids help to offset the cost of drilling. But the presence of a significant oil reserve is the real wildcard here.
Obviously valuing the company is difficult at present. Proven reserves are typically valued at 90% with probable reserves at 50%. But even at a pessimistic level of 10% of 100bcf at a possible $6 per 1000cf means that this stock could reasonably be priced at around 60cents. So good news will easily double the current stock price.