So OXX just sold 200,00 B at around $54 = over $10.8m at 50% ownership = $5.4m to OXX
They are producing over 6000 B/D = 2,190,000 B/Y = over $100m per year at 50% = $50m/yr
Current MC is only $27m.
At average PE ratio in O&G industry = 25.4, so say 25, should be valued $1,250m or 46x current amount. Tell me I am wrong.
Octanex oil production news, page-5
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