O.K., O.K., ...... take $3.7 mm operating cashflow for the first quarter (Corridor's figure); assume the other three quarters are the same, so $3.7mm x 4 = $14.8mm OCF for the year 2013. Divide by 88.46 mm shares and get $0.167 OCF per share.  A reasonably optimistic multiple of 7 x OCF results in a price of $1.17/ share.

7 x?  Pretty good multiple for a tiny nat gas producer?  And the above assumptions bother you?  Throw in some sauce like Old Harry and Frederick Brook and a 7x multiple seems very reasonable to me.  My conclusion from this admittedly simple math is that this stock is CHEAP!  rl