Waz, Mississippi Property has PDP Reserves: 34,557 Bbl Oil PDNP...

Waz,

Mississippi Property has
PDP Reserves: 34,557 Bbl Oil
PDNP Reserves: 78,629 Bbl Oil

Total 1P Proved Developed = 113,186 Bbl Oil

Depending on what Margins they make, but this is only fetch around $12/Bbl at present. My guess is its worth about $1.25M maybe. Just look at Birch .... $1.5M for 191,490 Bbl oil (the gas is free) ... that is LESS THAN $10 Bbl for PDP oil! The PUD is "free". Put that multiple on Miss property and its value drops by almost $500K

IMO they are underwater with the loan facility. Haven't received enough cash from sale of the EFS Reserves to pay it off

Pathfinder only worth what ranching leasehold is worth (if it was that bloody good every driller/fracker in America would be drilling Pierre wells)..... so what's that $200/acre? Call it $2.25M

So Assets of US$1.5M (EFS) + $1.25M (Miss) + $2.25M (Pathfinder) = $5M
Liabilities (RBL) of US$1.5M

Rough Net Value of US$3.5M (assuming C&CE wash with Payables and short term liabilities)

In AUD that's approx $5M ...which IMO is tops...

where is the SP is right now?

$0.0008 x 374,859,22 shares issued = AUD$2.998M

Tells me market is factoring AKK does not have the money to drill Pierre wells (maybe this one but then what?) even at $500K a pop. Need a real gusher this time.

Just my WAG.