Let's do some math here - $1.50 - $7.50/shareFrom today's interrview Canadian Imperial Ventures VP Kirby Mercer is saying 100-500 million barrels "recoverable" from this Shoal Point structure that they are drilling and have a very good chance of hitting based on the Memorial University seismic study.
at 100 million barrels recoverable x $50.00 barrel x 12% (CQV's interest in Shoal Point) / 400,000,000 outstanding shares = $1.50/share
at 500 million barrels recoverable x $50.00 barrel x 12% (CQV interest in Shoal Point) / 400,000,000 outstanding shares = $7.50/share
If they are able to hit their target this could hover anywhere between $1.50 and $7.50 per share.
Feb. 14 interview with the Western Star
"Mercer said from independent sources there is the potential to discover from 100 to 500 million barrels recoverable from that structure, however, he cautions this play in western Newfoundland is still in an exploration stage and while there have been some finds, there has not yet been a commercial find."