I am sure that is not how the next oil rush on hot copper is valuing REY. Your valuation method is not how it is done properly. I think someone of your experience should know better.
I agree with other posters that Backreef oil sold too cheap and OBL sold 25% too cheap from their holdings in Derby.
But, that was probably desperate measures at desperate times.
When you say BRU went up by a %. Talk about how much in market cap did BRU go up. The market cap went up because they have funding and this is their potential resources.
Then do the same with OBL. The potential resource of Derby is huge. As with what they are saying about REY's 25% in the Canning.
OBL will have a minimum of 25% and funded. Backreef Oil could not get funding and sold out.
Previously the Derby Block had no funding, no native title and no action.
Now there is funding, native title, more data and activity, better oil and gas prices. There will be a plan and program going forward. Totally different ball game.
So Bhutos this valuation question will become the biggest talking point on hot copper for OBL holders. So bring it on because it can only be good for OBL share price in the long run. Even with your 3.5c prediction. I am looking forward to what some independent experts come up with. Let's then see if you are closer at 3.5c or I am at 10c.
OBL Price at posting:
1.9¢ Sentiment: ST Buy Disclosure: Held
