This company is so undervalued right now. Once that 2P upgrades...

This company is so undervalued right now. Once that 2P upgrades go through then we should be in billions MC. 

Found this from an 2018 article. 
"It’s envisaged the company will be able to upgrade at least 2000PJ to the more confident 2P status, which would leapfrog the reserves of that of the $4 billion market cap Beach Petroleum."

Does anyone knows what happened between 2005 and 2007 that lead the SP to rise from 24c to $6.26? 
Could this be our second run-up to the old high in 2007.