share price according to internal estimates on the april presenation (on HRN website) they are expecting to find 200-300mmbo in each well, s-1 and s-N.
Very conservatively say we only find 300mmbo for both wells, we get $6/b which equals out to:
300m*6=1.8b
1.8b*0.6(hrn interest)= 1.08b
1.08b/97m(hrn shares)-if anyone knows fully diluted amount please correct = $11.13/share
Looks like AOI 2.0 to me