88e valuation after lol spurt9 Mar 2023 09:07
Wondering how to value 88e.
If it finds an expected 647 barrels of oil, at the current $74.59 per barrel, this would come to $49.5bn.
Not sure 88e, would be suddenly worth that.
But it has 20.1 billion shares issued, so $49.5bn divided by 20.1bn shares comes out at around US$2.40 a share.
In UK pounds that's around £2.02, which is a massive hike form the 0.0066p they are trading at now.
Is this the wrong calculation of value for the company?