$27,588 Per Flowing BOE Per DayFriday close of $1.06, 47.5 million shares and $60 million in debt = $110.35 million / 4000 barrels per day = $27,588 per flowing BOE per day. Cheaper to buy oil on the TSX than to drill. Reserve report shows a value of $3.67 per share, $234.325 million, or $58,581 per flowing BOE. Recent deals done at $43,000 per flowing or $2.35 per share. Split the difference and we could see $2.50 - $3.00 (last equity raise at $2.40). Reserve report is clean and conservative. I would welcome an all paper deal with RRX, CPG or SGY. We all know that First Energy have the best M&A team in Calgary. Company that buys RE will become the next CNRL. Hold their shares for the long term. If no deal gets done, happy to hold this one based on $1.06 share price and the management team.