MY ESTIMATE OF FORTEM RESOURCES VALUATION OF ACQUISITIONS:
(I'm guessing we should see an SEC Filing... 10Q or 10K in the not too distant future... that should help firm up these numbers).
Fortem Resources (Ticker: FRTM)
8 sections (5,120 acres) Viking play in Compeer Central Alberta
Valuation: $10 Million? [Just picked a number--has to have some value]
Shares Issued and outstanding: Appr. 32,000,000 shares
Private Placements
Multiple dates .25-.70 per share
Total: $1,932,500
Shares Issued: Appr. 6,000,000 Average Price: $.32
Appr. Outstanding shares 39M
Combined Valuation: $11.932 Million / 32M ='s Book Value $.37
ACQUISITIONS
April 11, 2017
20 Sections (12,960 Acres) of Oil and Gas Leases in Northern Alberta
Issued: 21 Million shares valued at $2.00 Per Share (+3 mil more)
Valuation: $44,000,000
Outstanding: 59 Million shares
Combined Valuation: $55.9M/59M =’s Book Value: $.95
Apr 17, 2017
165,000 Acres of Oil and Gas Leases in the Moenkopi Formation, Utah
Issued: 20 Million Shares valued at $2.00 per share Plus Cash: $2.4 Mil
Valuation: $42,400,000
Oustanding: 79 Million shares
Combined Valuation: $98.3M/79M =’s Book Value: $1.24
Apr 21, 2017
Interest in 101,888 Acres of Oil and Gas Leases in the Mancos Formation
Issued: 20 Million shares valued at $2.00 per share Plus Cash: $2.15 Mil
Valuation: $42,150,000
Outstanding: 100 Million shares
Combined Valuation: $140.5M/100M =’s Book Value: $1.41
Keep in mind these numbers are based on the cost of acquisition... not the potential or developed valuation... which we think will be much higher.
Watch for opportunities with those you trust.
