RE: SpeculationYou said 10-bagger if Bowmore works. I thought you said it tongue-in-cheek, but then I did the math. WOW!
Tell me if I'm interpreting this correctly: (I multiplied the quoted numbers by 2 to show IFR's 10% interest assuming they don't farm-out any. I also divided by 60 million shares.) NPV @ 10% after-tax assuming forward pricing forecasts and the mid-case for reserves equals $1.43 per share NAV for Bowmore. I assumed the Capex is paid for in the NPV calculation although they would have to raise the money. Not having any oil industry experience, I don't know if that's their practice or if you have to deduct Capex separately . I also assumed no help from the tax pools generated by the dry holes at Laurel Valley etc. Those would boost the value higher toward the pre-tax NPV valuation. And the high case would be $3.75 per share, a 37-bagger. (I'm a long-suffering shareholder. I like to dream.)
"If" they find the reserves, Bowmore could be huge for IFR.