Thanks Faris for the clarification. Didn't Mr. Faris say in the meeting that he was already offered by a "major", drilling financing, in exchange for a 50% stake and Mr. faris turned it down saying, "its too much, too soon"? So I believe that is the worst case scenerio. AIPN may settle on 40-45% stake to a "major". Remember, the MUP has AIPN stock (3.5M shares) of it, so they may play a major role in keeping dilution to an absolute minimum.
Faris, the numbers are "mind-boggling", whether potential or proven reserves. And given, all numbers are "worst case" we still have a very cheap stock. Furthermore, once if you were to add an asset value of $1.50/share to the refinery operations, the current valuation, IMHO, is very compelling!! The stock market is currently valuing the very conservative"worse case"scenerio reserves at just $1.25/share or $50m dollars. Even with all the risks inherent, and I must say, they are diminishing daily, AIPN is still dirt cheap.
Thanks for the quick response.
Juan D. |
