The results are fantastic. However, I am more interested in the cashflow from operations than the sale of oil in storage. I am not an expert with the numbers, but it seems to me that they could easily reach a $1.50 this year in earnings. A conservative 6x earnings gives at least a $9 value. A good result from their high-impact drilling in Q1 would make this value easily attainable in the near term.
Even after today's increase in share price, this company is still great value. Many other companies are valued on cashflow rather than earnings because a lot of the funds from operations are pumped back into drilling and exploration costs. The result is that they do not have incredible earnings. This company has both great cashflow and earnings and the potential to organically grow its production and the potential to get into acquisitions now.\