Arcan Resources Ltd ARNBF

RE: RE: RE: good update incr reserves and nav

[good40]

It's actually a little worse than I thought... they really only have about 27 million barrels (2P) net... the 35 million barrel figure is gross reserves... net is the only number to have value.

On a per barrel basis,  they are really saying that NAV is around $28.... ridiculously high, around 3X for reserves that are mostly undeveloped and non-producing. Currently much too expensive tire9.