700bopd x 330days x $35 = $8mil x 90% = $7.2mil profit. Assumes some downtime for maintenance, operating expenses, etc.
Does that justify $100mil market cap?
Who knows. But the large reserves will help, and the market is forward looking. Some of that 'blue sky' should be instant reward.
MHL is a good chance to trade in the (equivalent) 0.3-0.5c range. I'd be happy with that. Most people would sit in that range somewhere and if you are offered opportunity to average down closer to 0.3c, then it seems a no brainer.
But where would that leave MHLO? What would sp need to do before MHLO moved? Maybe if sp hit 1c it could get a few bites.
MHL Price at posting:
0.4¢ Sentiment: Hold Disclosure: Held
