RE: RE: Wells buys again todayBut oilandgas, if you want to give o% chance of finding further commercial oil, then yes,
value the company on Doris1 only. But, that is not how resource comapies are valued. You have to look at the areas under contract and the exploration wells being drilled and assign some chance of success in finding commercial oil. I agree with you that we do not know what we have yet in Taj. but certainly it is reasonable to say there is a 50%, or whatever, chance of finding commercial oil. And, I would say there is 30% chance of strking commercialoil in Kalypso, etc. Based on that the SP is undervalued. That is why the analysts have higher target prices, because they are assigning some chance of success. Generally, if Doris1 has 30 million recoveral barrels that could justify between 180 million and 300 million market cap depending on how you want to value the oil. I know we may disagree on what a barrel is worth. That is why First Energy says that an investor is getting all future exploration for free. We have the new find in AKD03 plus very good potential in cretaceous AKD03. We have AKD02 and G6RE that are still to be simulated. We have Tasjikistan, we have Kalypso, AKD04, AKD05, Daphne - all that have not been given any value. That is why the upside is so good. That is why Wells is going along buying everything he can on the OTC market because there is very little downside.
Anyway, lets hope for some good results so we can all do well.