Arcan Resources Ltd ARNBF

RE: RE: RE: Simple Math

[good40]

Here's some numbers tire9,  each well costs $5 million so anyone would have to agree that $5 million has to be recovered before it's worth anything... agreed ?

Just from memory so correct me if I'm wrong,  they drilled at least 24 wells last year and 21 wells this year... this years' average production was 3500 bopd.

The wells from last year declined 44% over just half a year,  I'm not aware of the decline factor after 6 months but it really doesn't matter,  does it ? 

It's like talking to a brick wall with you guys,  my numbers should make sense or at the minimum should be debated.  They haven't been,  so while you may feel confident in your " each well is worth $10 million " ... you haven't shown how they are worth $10 million.  I've seen their numbers in Q reports,  cash from operations doesn't support your theory.  I'm sure everyone wants their shares to appreciate,  but it's not worth burying your head in the sand.

If it's worth the current market cap,  show the returns based on the historic numbers over the last two years and carry them forward... both capital expense and cash from operations.