Replies to post #5282 on Worthington Energy, Inc. (fka WGASQ)

[xZx]

choctaw, thanks for generating those numbers. i would say on $9M in gross revenues we could net $5M, easily, which yields eps of .02...

if we give it a higher PE ratio, say 10 (our peers trade around 15 much of the time, and with all our other leases i think we should, too), then we still get a pps of .20, at a 10X multiple... or .30 at a 15 pe.

but here's the question -- is that 300 boepd before or after our 10.35% is calculated? in other words, are we expecting the 300 boepd to be our cut? if so, i need to buy the whole float. lol

personally, i think that's the total production, and we get 10% of it. if so, that would still give us about a million a year in profits to service our debt and get other leases online.

all things considered, i do believe mustang island by itself should warrant a pps of .05-.08, possibly higher, depending on flow rates... after all, it's the catalyst for a lot more profit potential.