RE: Net Asset Value: $ 51 per share possibleYou made an error similar to the one I made when I first posted that calculation.
You need to take the 339 million barrels recoverable and apply the 40% interest that LFD has in the contract.
That leaves LFD with 135.6 million barrels. Multiply by $5 per barrel = $678 million value to LFD. Divide that by the number of shares (678,000,000 / 144,000,000) and you get $4.70
Still more than a ten bagger.