Easy double??? LOL!! To .04?? Really!!??
Son, you really need to learn how to value resources.
Wilmot and his associates own over 28 million shares of stock.
Wilmot HAS to make this happen for many different reasons. Most of them outlined in the yearly report published on Aug.11th.
I am not a Wilmot supporter, as I do not like the way he does business,but he also knows the value of what he holds and what it could mean for him and his family. The Questus deal is a for real deal, as far as my DD tells me. The other two companies, I think are jokes and would not count on them.
There has been great interest in this field by several very legit companies and it is my belief that in the worse case scenerio he will fall back on one of the many previous offers.
The value of the oil in the ground, which does fall under the proven reserves category. There is a big difference between stock price and value. Wilmot needs to bring the two in line with one another. Please do your own DD, as I have done mine. I have found that many oilfields, just like this one and also contained within the Woodbine field have sold for a low price of 7.00 per bbl to a high price of 12.00 per bbl in the ground.. Knowing that, it is pretty easy to detrermine the value of the resource here.
12,500,000 bbls recoverable X 7.00 bbl = 87,500,000.00
12,500,000 bbls recoverable X 12.00 bbl = 150,000,000.00
According to the Aug 11th Yearly Report there are 91,431,580 outstanding shares. I do NOT believe that the share count is over 100 million. Now apply your own math as you should see what I'm driving at...
When the company becomes a "PRODUCER" the VALUE increases even more and I feel at that time the market will begin to recognize that VALUE with an increase in share PRICE. It will most definitely surpass the .04 price prediction in the previous post. In fact, it is my belief,that most likely if anyone else had control of this company the share price would be setting at .10 at this time. It is my opinion that the CEO's reputation is severely affecting the PPS at this time. The market is clearly in a "WAIT AND SEE" mode with this stock.
This post was not made to pick on anyone or offend anyone, but to help shed some light on what the VALUE is here and what this company and stock could become with proper decision making from the management. Wilmot has had a history of fluff PR's and talking big, often more has been said than done. Now it is his time to shine, take the bull by the horns and get the job done or get someone in charge who can. The market is waiting on you Mr. Wilmot.
I rate this stock in the "HIGHLY SPECULATIVE" category,but also a "STRONG BUY" for this classification. The above post is only my opinion, based upon my own DD and is not intended to be investment advice of any kind. It is your own hard earned coin, so do your own DD and arrive at your own conclusions.
Have a great day everyone!!
