RE:EL Barforino Hello Everyone,
Great to see us over 18,000 bopd. Just did a few back of envelope calculations.
Revenue for 2nd quarter = $131,688,182. This is a $873,000 decrease from Quarter 1.
If expenses are similar, then our EPS for this quarter = .06 cents per share, the same as last quarter.
Therefore, we are currently trading at a P/E of 12.5. This may be one of the reason our stock price is rangebound, other than a dreadful resource sector.
May need a huge boost in production to justify a substantial increase in share price.