FNR market cap less than FEC ??FEC has about 450 barrels day and 30% of 5 new wells so that equals 1.5 well net and their market cap is $48 mill.
FNR has 600+ barrels day and 90% of 20 more well drilling so 18 net and they have $60 million in other investments on top of the oil and their market cap is $45 mill.
Still scratching my head about the share price?? No logic with the numbers. Someone with more brain cells needs to educate me. Guess I should have been buying the overvalued one? I know, have more patience. Got to be the flow through drag is all I can blame for the share price stuck, they should have never been issued until Allstar was fully valued on the books. Most of the flow through investors didn't buy because they wanted to hold FNR, they wanted the tax advantages, or a very reduced risk in getting the shares. Unless the $7 mill additional investment in the gold property had to happen at this time then the money was not required for current Allstar projects in my opinion. It will just take more time to materialize, There just should not have been this many shares available at this price with such a climb in the oil production. There could be a group that can get too big of a position of control on the share structure. What do you think?
FNR buyer.