CRESCENT pays $100,000+ per boepd We know very well that Crescent pays $100,000 MINIMUM per boepd. It has paid higher than that LATELY but let's take the MINIMUM.
Second Wave will have around 2,400 boepd by year end ( with the curtailed production of 230 boepd and the NEW wells of Q4 recently tied in included).
This gives a $240M MINIMUM Valuation for a Crescent acquisition.
Deduct the long term debt of $87M, we get $150 M purchase valuation for Second.
However the CURRENT market cap of Second is less than $50M !!!!
Crazy....just Crazy......