News=UndervaluedRE has 42.5 million fully diluted shares out. Priced at $2.33 a share there market cap is $99 million. Add in a year end projected $18 million of debt there enterprise value is $117 million. If they announce they are producing say 3700 boe/d they are valued at $31,750 per flowing boe. TBE has 255 million shares out. Priced at $2.12 there market cap is about $540 million. Add in a year end projected debt of $202 million there enterprise value is $742 million. They are guiding to 16,500 boe/d production which equals a valuation of about $45 K per flowing boe. Just a comparison on a larger heavy oil centric competitor.