RE: B.C land sale May 2010 collected $76.6 millNot a great argument for the current valuation ometok, but thanks for doing the calculation.
The only thing I can add is that there are 54 million shares out and that all the sections should not be valued at the same amount.
New share purchases below .89 cents would be valued for land value/cash/plus improvements, shallow rights valued at nothing.
If Canbriam spends 49 million by themselves then they earn another 5% of the project, while some expect that news before the end of Jne, I would expect Canbriam to wait until the flow rates from the two wells
The company is testing the lower portion of one well now, I do not expect them to release flow rates unless they are over 5 million a day.
The new horizontal well is now being drilled and will be tested, it is going to be all about this well, the companies future will be all about this hole.
JMHO