On the companies website, there is a geology report from June 2002 that estmates speculative recoverable reserves at 76 to 130 mmbo. I don't know how that translates into value but just taking a $100 per bo, the min. spec. value is $7.6 billion which translates to $18.90 per share. Of course you have exploration, production, environmental etc etc. I have no idea what those costs are and please note the reserve is highly speculative. However, the geology encountered is as predicted so far. Port aux Port well #1 did produce oil. We will have to wait and see.