And some positive posters(with large followers) recently who came from nowhere haven't been posting since middle of last week. I guess those guys came here to get people to buy in while their associates diluted. Now they are gone and dilution seems done as well.
What we now need is a catalyst of sort. This can move back to test .01 very quickly. Come on Warren, say you get all government approval for all the documents to move forward.
I read up on Exxon and Total Oil in that area ... how they wanted the land etc but the locals didn't want it few years ago. Now the locals are wanting to seal the deals but all environmental concerns must be met first. So timing works ok in this case. What we know is it has been over a month and a half since Warren signed an agreement to represent the land owners. I am thinking paper work should be about done any day now.
Exxon and TotalOil can close the deal after all documents are filed. Now how much is revenue each year I don't know. DLCR are getting 30% for 3 years.
The rate in USA is $24 per year per acre for oil exploration (private land). Royalty is about 18% of oil revenue.
Does anyone have an estimate of how many acres Warren is representing? How much oil (barrels) or $ expected from revenue from oil on the location? If we know the estimate we can figure out DLCR's part of revenue.
$24 per year per acre
18% royalty.
Let say 10,000 acre = $240,000 per year
Say $1 billion worth a year in oil
18% of 1 billion = $180 million a year in income.
$180 million x 30% = $54 million a year for 3 years.
I have no idea if my estimate of $1 billion a year of oil revenue for Exxon and TotalOil is accurate. If so, this company should be traded at .10 a share easily. With lumber and gold revenue, .25 a share maybe?
