ValuationOk so I might be out to lunch on valuation but I see no reason to change my thinking just yet.The way I see it is that the market has already priced in at least $1 per share for the intangible value of the human capital (talent and experience) of the people designing and drilling this well. Once they prove that they can drill these wells to TD then it'll derisk the well design. Say they drill another 10 wells. What is that well design that they can use as a template worth? Keep in mind that the well design is the result of the lessons learned from other operators who have spent over $200 million learning those lessons. These are wildcat wells after all. So I'm putting a $1 per share value on the well design. So at TD they have the well design and drilling team derisked. So I'm expecting a sp of around $3. Now to derisk the field and put a value on that. Say that they find 50 million barrels. Not commercial people say. Well then why are they producing 30 million barrel fields in the Agean Sea offshore Greece and offshore Egypt? Shallower water yes, but FPSOs aren't bothered by water depth. They're dynamically positioned and can stay over a spot thousands of meters below them in almost hurricane like conditions. I still cannot understand why 50 million isn't commercial so I'm putting a $1 per share value on finding 50 million barrels. So we're up to $4 per share. But now the entire block is derisked. What's that worth? So as they continue to derisk the sp will go up. First the people, then the well design, then the discovery of oil, then the block. Yes there are too many unknowns involved but at least we know what we don't know and as those unknowns become known the sp will rise. Just my very humble, rookie investor opinion.