Dont forget this company has a working capital deficit
Granted that could change drastically by adding millions of barrels of proven reserves to the balance sheet. However unless oil stabilizes in the 50s or they manage to hedge in the 50s the project currently will have negitive net backs. Its likley this project could be mothballed till next year and hope for higher prices. In all .02 per share sounds brutal but its stil wayy over book value. Unless your buying to cover a short position id hold the hell off from buying anyshares at any price.