Correct! There is no dilution except for the new shares issued in the rights offering. The value of the company has no place to go but up. We can play with numbers all day long and never be right because of two things:
1- we don't know how much oil we have.
2- The value of the company stock is determined by the market perception of it assets and future prospects.
In my opinion that is either a WOW! or a FANTASTIC WOW!
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