RE:Oil up $1 close to $72. Yup, WTI @ $72 and TVE trading at
1 Billion market Cap / 38,0000 BOE = $27K per flowing barrel
Should be valued in the 35K-45k/BOE minimum at this oil price.
$35K*38K BOE = $1.33 Billion Market cap / 407M S0 = $3.26 Share Price at a minimum and were at $2.6. Just crazy
On every metric this and many other O&G companies are at a multiple that is attributed to $50 WTI not $72