88 Energy Ltd (EEENF)

[Tessa89431]

I think whoever is estimating $8-$16 doesn’t realize that 88E definitely won’t be getting $60+ per barrel of oil. They will get substantially less than that as they plan to farm out the recovery and production of any oil they find. Some people say $3-$10 per barrel. That would put the company’s worth at between $10 billion - $34 billion. Divide by 12.5 billion OS and you’ll get a potential share value for a confirmed 3.4 billion barrels of oil: $0.80 - $2.72. Of course that is best case scenario for 3.4 billion barrels of commercially viable oil. I am just going off of what I’ve read, as I have no idea how much an exploratory company can make per barrel of oil.