Undeveloped land valueJust a small point for discussion. Crew shows 264000 net acres total land of which 39000 is currently under development. Assuming homogeneity, what is the value of the undeveloped land ?
On a TPP reserves basis current lands contain about 10,000 BOE per acre according to the 2020 reserves report. The dollar value averages about $33000 per Acre. using an NPV at a 10 % discount rate.
Contrast that to the $1000 per acre or the $5000 per acre shown in the presentation. Right now the share price at $1.16 equates to $ 180 million divided by 264000 total acres = $680 per acre (which would assume that existing production will only cover existing debt)
I know this analysis is very rudimentary, but the contrast between market evaluations and realizable evaluations is startling . There is a long and probably very prosperous voyage ahead for CREW
The passage has just barely begun and the rate of travel is speeding up rather nicely (AFF up by 174 % over a 12 month time frame )
If you thing the ship is sailing too slowly, then give the shares to your progeny. They will have only nice things to say about you for a very long time !!