Long Run Explor Ltd Ord WFREF

bang for the buck

[qwqw]

If LRE were able to buy back half its shares using an issuer bid and a dutch auction
at an average of $1.50/ sh,the total cost would be $150 mil.NAV/sh would double as a result.
If you wanted to double LRE's NAV by drilling,it would require over $2 bil worth of capex and
that's using low finding costs of $10 boe, the norm is closer to $15 so maybe $3 bil. 
For a company trading for peanuts like LRE, not having an isser bid is insanity at its worst.