Actually, oil price DOES have a relationship to the pps of EEGC.
Stock price is the present value of the anticipated discounted cash flow, risk adjusted.
So, the stock goes up and down based upon perceived risk (that is, likelihood of the expected volume of oil getting to the market), and profit per barrel. As cost per barrel remains relatively constant, expected profit does change based upon market price.
Having said that, perceived risk is the driving factor.
(Left out of the analysis for simplicity but obviously also contributing is whether some business other than oil might have value. But point is, price of oil does impact value)
