a valuation computation is pretty much impossible to construct at this stage as we do not know the size of the oil and gas reserves on the land leases. We have been told that the oil can be extracted using standard vertical pumping technology so we could guess at the cost of extraction, but again we have no idea how many wells would be added as we have not been privy to the seismic analysis which would determine their future drilling plans.
In addition, we know there are 894.5M shares available, but we have no idea how many of those shares are in play. Kim has been told by Bruce that the shares are tightly held, I would tend to believe that as the volumes are rarely over 1M in a single days trade. Basically, it's anyone’s guess here.
Greg
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