Value Microcaps Motherboard

[MikeDDKing]

mrgreen,

I did some EPS calculations for Veteran Resources. My calculations show 2005 EPS in the range of $0.042 to $0.078 with BOE prices in the $40-$45 range. I used a BOE number of 1,350 for these calculations. Veteran is estimating 1900 BOE at the end of 2005. On an annual basis this is still only $0.12 at an average oil price of $45. Where did you find your EPS estimate or how did you calculate it? Also, is the 10-15 cent EPS you are discussing for all of 2005?

My calculations for the annualization of the 1900 BOE number at $45 per BOE are as follows:

Depletion & Depreciation = $15.25/BOE
Production Expense = $9.96/BOE
Royalty = $6.43/BOE
Diluted shares = 67,101,706

(1900 BOE/day * 365 days * ($45 - $15.25 - $9.96 - $6.43 per BOE) - $1,328,156)/67,101,706 = $0.118 annualized EPS

Mike