RE:RE:EXX - News Excellent !Urbani your not right here. You keep using the word net. There's lots more to the equation, lifting costs, royalties,possible GORR, if it's 250 barrels they will not see 75 net. 75 gross possible
Urbani wrote:
60 million shares EXX outstanding and trading at .08 cents or $4.8 million CAN market cap. Mineworx's brings another $3 million to the books of EXX. If CRS flows 250 bod in the next 12 Months on average, that works out to 75 bod for EXX at a net $30 U.S. (net operating for natural gas) and oil at $40 WTI and 350 days in the year . . . EXX $780,000 U.S. in net cash flow. Oh and drilling more horizontal wells at a 40% interest.
When Mineworx's goes public, you can bet the $ 3 million current value in Mineworx's will be a lot more than that to EXX shareholders.... Right the asset for the $2 million spent on the well and the property value CRS/ EXX also holds value and reclaimation costs, which the vaule far outweights at this time.
EXX just became a very, very nice investment for sure. Well done. I feel for those shareholders who sold after Oct. 2nd, 2015 thinking they would get a .45 cent dividend for every EXX share they held in Mineworx's and sold EXX after the date for those shares that are not coming now.
Oh, well. One heck of a nice company for sure now.