NAMX -- North American Expl.-- Que Sera Sera! Message Board

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Microcap & Penny Stocks : NAMX -- North American Expl.-- Que Sera Sera!

NAMX 0.0001000

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Mar 7 3:00 PM EST

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To: Zeev Hed who wrote (3899)	6/9/1998 5:04:00 PM
From: Sidney Reilly	Read Replies (2) of 4736

Zeev, The Geophysic estimate was not worded that way and it was 60+ bcf of gas. Here is a VERY rough stab at value: 144 million shares issued. The numbers from Geophysic (if reliable) for 10% of the gas reserves in Nebraska were 60.5 billion cubic feet. At $2 a thousand cu. ft. that is $121 million dollars; subtract 60% for operating costs, royalties etc. leaves $48.4 million divided by 144 Million shares = $.34 cents a share Net tangible assets. That is not including the value of any other assets. I am certain there is nothing in the stock price now for EM-Sounder so that issue IMO is not important. It can only add value when it is proven as a viable technology. The agreement with UPR is not in the price either. The potential revenue from the Nebraska wells are not in it either as far as I can see. We have little down side left <gg>. No place to go but up!!

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