I'm sure lots of people would be glad to take that $8 ...:).
The fact that CNE is producing at higher net backs and that the production will ramp up towards end Q3 should be very lucrative...2-3 x higher netbacks means more profit for less work.
If they can achieve 3 times higher netback it means 8000 bopd would equal 24000 bopd of the previous production. Take an 20 % royalty that would equal to 19200 bopd...not to shabby for a start...undervalued?
You betcha !!!
$8 is conservative to say the least...but markets are still cloudy...getting better but still a few more issues to be dealt with...afterall, ones need something to bet on.