estimate share price around $1.50From my understanding I am estimating the share price to rise about $1.50 after end of June. Am I thinking wrong and what am I thinking wrong and why? This is based on the following information:
-"8 new wells were drilled & now producing (100% success rate) proving up 26 step-out development locations)
Finding and Development costs: $11.55 per bbl."
* Revenue of $3,794,583 compared to $1,231,672 an increase of 208%;
* Operating cash flow of $1,501,757 compared to $57,259 an increase of 2,523%;
* Proved and probable reserves of 898.8 MBoe compared to 434.3 MBoe an increase of 107%;
* Value of before tax proved and probable reserves (NPV 5%) of $16,942,000 compared to $7,823,000 an increase of 117%;
* Exit production of 400 boepd compared to 200 boepd an increase of 100%;
* A total of eight new 100% working interest wells drilled and producing for a 100% success rate;
* Added 489,000 boe of proved plus probable reserves with a finding and development cost of $11.55/bbl and generated a re-cycle ratio of 1.83 (The recycle ratio is determined by dividing the netback per boe by the finding and development cost per boe and is a measure of how effectively a company is investing its cash);
* A proven reserves to production replacement ratio of 3.59 and proven plus probable reserves replacement ratio of 5.29.
- "Company Gross Reserves: Athlone retained Sproule Associates Limited ("Sproul") to conduct the evaluation of the Company's petroleum and natural gas reserves as at January 31, 2007, 2006 and 2005. THE REPORT WAS COMPILED PURSUANT TO THE GUIDELINES ON NATIONAL INSTRUMENT 51-101. FORECAST NET REVENUE, DISCOUNTED AT 0%(MS$), PROVED AND PROBABLE 19,919000 BEFORE INCOME TAX."