VALUATION $ 5 BILLION CASH TO LFDHello Everyone,
Given that a few clowns have showed up of late trying to spread fear, lets do a few math calculations as numbers don't lie. What is the valuation of the Jeribe play? We will only look at this play since this is where initial drill will take place in June 2011.
We will use the 50/50 estimate provided in the report:
Contigent Jeribe 60,000,000
Prospective 217,000,000
Jeribe play 277,000,000
Profit per barrel $ 75 ($90 sales price minus $ 15 cost price)
Profit for Jeribe $ 20,775,000,000
Cut for LFD 40%
Profit for LFD $ 8,310,000,000
Less 40% royalty 3,324,000,000
Net Profit for LFD $ 4,986,000,000 (ASSET VALUE FOR JERIBE)
Market Cap of LFD 55,000,000
Statistics: LFD is trading at 1% of its asset value
Asset Value is 90x greater than the market cap of LFD
CONCLUSION: The company of good40, HHOC and other mental retards on this board will somehow twist teh very bullish innformation that was released into something expensive. When confronted with demonic forces, use math numbers and you will find comfort. There is no person whom can dispute the numbers above as they are on a 50/50 basis.
These sharks will try anything to steal your shares by planting doubt. Hold on to your shares. Remember that management needs to exercise the warrants before July 2011 so there is tremendous incentive to spark a huge rally. I believe that management needs to clarify in simplier language this Jeribe play, once investors understand the implications they will roar in.
I believe that I had previously calculated similar numbers using the old report. There is value in the play otherwise the likes of SOROS would have moved on. He is not stupid and he knows every transaction to the penny. He is not generous either that throws away money. If he is in this play it is cause it will bring him huge $$$$
Have a good weekend,
JMHO