Valuation MetricsThe deal value is around $30 million - give or take - for the 5.0 percent interest. That imputes a valuation of $600 million v. $1 billion mkt valuation, or $3.0 per share.
Previously, I predicted that the stock will fall to $3 level to fill the runaway up gap.
There is only a 10 percent success ratio on the next two wells according to rhe CO's own estimation, the stock is vulnerable to collapse back to pennies if they come up dry again.