1581, you don't even need to ask Keith what he "believes" a fair price for Hemi is. He has put IN PRINT information that is not a "belief" but a statement of fact. Granted, the below does not indicate a hard core number for the actual value but you can see at least what the value is listed as... "at least" being a minimum value.
Nov 1 press release...
The total value of the reserves alone in the independent reserve report on the five leases that have proven reserves in Woodson County have a value substantially above market cap valuation. Hemi also has leases in four other states and additional leases in Kansas that add several times the lease acreage that is not included in the independent reserve report.
The above was when we were around .12 or .13
If the above isn't strong enough for ya, here is another one IN PRINT that again is a statement of fact and not a belief or assumption. From the Sep 27 press release...
Hemi President and CEO Keith A. Anderson stated, "Our Market cap is substantially undervalued, an artificially low market cap based on what the Oil and Gas Industry book value would value Hemi Assets."
At the time that press release came out we were around .12 or .13 again but higher a couple days previous. Again, keep in mind, when Keith states "our market cap is" that is not an opinion and he has the documentation to back up these statements. So, while I'm not attempting to speak for Keith, I would like to point out that he has the records to show book value of his company worth at least .12. And, I'm using only .12 because it is unknown what his definition of "substantially" is... it could be 5% or it could be 500% but since it is unknown, and if you don't like to speculate, just don't even account for that wording and use "at least .12" instead. Point being, his books may show .13 or .30 or higher but we know they at least show .12.
Yeah, I know, this reply didn't answer your question exactly but hopefully at least gave you a minimum number :)
AI
