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Post# of 173972
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cliffvb

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cliffvb

Re: abh3vt post# 93637

Tuesday, 01/29/2008 3:01:08 PM

Tuesday, January 29, 2008 3:01:08 PM

Post# of 173972
CNEH- I also expect we'll see about 11c eps for the Q. Here's my breakdown:

Assume $86/ bbl x 93,329 bbls = $8 mil revs
less: Depreciation $1.58 mil
Production costs .85 mil
government oil tax 1.34 mil
SGA, other .40 mil

Profit before tax $3.83 mil
Income tax (34%) 1.3 mil
Minority interest .3 mil

Net income= $2.23 mil. Assuming 19.5 mil shares= 11.5c/ share.

At $2, this one seems cheap to me (I own shares).

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