Chelsea Oil and Gas Ltd. (fka COGLF)

[Fossil-Fuel]

I have no idea about oil and oil companies, but per the below estimates trying to figure out a future market cap for COGLF. If the low end estimate of oil is 21.1 million barrels and the price per barrel is $99 USD, that would be over $2 Billion. At 13%, that could be a low end valuation of $270,270,000 or 24 x current valuation (Market Cap $11mil)? That's not taking into account Gas and Condensate and not even sure how that would price out. Please let me know if I'm off the mark here...

The Company owns a 13.8331% working interest in PEL 444 in the Cooper-Eromanga Basin in Australia.




http://finance.yahoo.com/news/acor-announces-acquisition-international-tme-130000949.html