LA PROP SALE AT .005 PER DILUTED SHARE
Compare that to Mr. Bruce Badeau's analysis dated 12/27/2010:
"Underpinning the company’s market capitalization based on 107 million shares fully diluted, optioned and post merger, is the Louisiana acreage with a reserve report net to the company of
60 BCF of Gas and 226,000 barrels of condensate. Roughly, the oil equivalency is calculated by dividing 60 BCF / 6 = 10 Million Barrels of oil plus the .226 condensate or an approximate total
of over 10.2 million barrels... NET to MNLU… Now this is quite good and coming from a prominent reservoir analyst, this number is very likely to go up as more wells are drilled. Value
to MNLU… all depends on the shape of the decline curve… but one could conservatively make the case for $1.00 per BCF or $6.00 per barrel of oil (net of CAPEX)… or $60,000,000 million divided by 107 million shares (post merger, fully diluted plus option shares)… or $0.56 per share… the current market price."
