$EEENF PT for this mofo and my own analysis below: News is due this Sunday either way on EEENF. MDMP’s discovery was 4mil barrels of oil and ran from .02 to .96 in a week. At the high end, EEENF could potentially be 1.6bil barrels! Say it’s a more conservative number at 650mil barrels, that’s still 162.5 times more oil than $MDMP’s. EEENF has 12.5bil OS at the moment, but they are spread between the ASX, LSE, and US so that’s not the true OS. It’s hard to find this piece of info and it will affect my PT, but we’ll keep it at 12.5bil for now. At it’s peak, $MDMP reached a 40mil MC at $.96. The peak equivalent for the US, even with the 12.5bil shares and at 650mil barrels found which is 162.5x MDMP’s, would be a 6.5bil MC. Divide by two as EEENF is taking half the profits and it’s now a 3.75bil MC. The current MC is at 750mil for EEENF with a pps of $.06. Divide that by the 6.5bil projected peak market cap and you get 8.7. 8.7 times the current pps, divided by 2, is $.26. Continued..
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