A market cap of 50 million dollars is far from being an amazingly cheap price. It is actually a very high market cap for a company that has no proved reserves. KATX paid less than one million dollars for the property recently acquired. That property had been drilled. Posters seem to think that the property I refer to is at least as valuable as the average property owned by KATX. This would suggest a market cap of KATX of less than 10 million dollars or less than two cents per share.
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