Bad post SSC,
Uncovered again as an overly, deliberately negative poster.
I was already more conservative than Troy, just for peoples like you.
But what you 'seem' to miss is: even if you take $7,50 per barrel, it still is a factor 50.
Also you 'accidentally' leave out the fact that if oil is found, any dilution will be just a factor of what it would be last year, because the share price will be back to old levels, and higher.
We were at 15 cents, pre drilling, pre CEPSA, pre R/S, just Kenya.
So we were at $15,- / 4 times dilution, let's say a conservative $3,- pre everything. We are now at 8 cents, that is a factor 37.5 (a week ago even a factor 66) pre the oil glut/CN era, on no oil whatsoever.
If commercial oil is found we, of course, blow right past that $3,- figure by at least a factor 5, to any number the oil find will justify.
Dilution is no problem with oil in our books.
Didn't you know that? Lol. If you were looking for a valid reason why Peter & Sylvan bought so much shares last year, look for the answer to that question in this direction.
P.s. Why did I even react?
