I have seen some dubious arithmetic on other sites about the relationship between the share prices of these two. Never mind complicated calculations about percentage ownership, warrants and options, etc. All that is relevant in this is the number of SHP shares owned by CQV, which is, as far as I know, 20 million, plus 10 million warrants @ 40c.

Assuming the warrants are exercised, we have 30 million SHP shares. The market capitalisation of CQV is presently $10.22million. Since the market price can only change in 1/2 cent increments, this is close to the market value of those 30 million SHP shares, though slighly high, with CQV at 513million shares outstanding.

If SHP goes to $1.00 per share, CQVs 30 million SHP shares will be worth $30 million. The per share for CQV will be that $30 million divided by the total number of shares, or in simple & rough terms, 3X the present $0.02 = $0.06 per CQV share.

If SHP goes to $2.00 per share, CQV market cap should then be around 30million X $2 =$60million, or $0.115 to $0.12per share.

If SHP goes to $10.00 per share, CQV should be around $10 X 30 million over 513million shares, for a total market cap of $300million, or around $0.58 per CQV share, assuming no dilution of CQV by then.

Are these figures likely, or even possible? Present figure is a Best Estimate of recoverable oil in place of very slightly under 1,000,000,000 (1billion) barrels. With outstanding warrants and options exercised, SHP will be getting close to 400 million shares. That is still around 2.5 barrels of recoverable oil for every share. What is recoverable oil in the ground worth, in Western Newfoundland, in coastal waters, at depths of less than 2,000metres(shallow for oil wells)? A figure of just $1.00 per barrel would mean a SHP share price of around $2.50 per share.

Other companies with recent discoveries have seen Rockhopper Oil, for example, with 350million barrels recoverable, at a market cap of $1,542,400,000 or around $4.40 per barrel recoverable. This is with several wells tested at flow rates of 2,000 to 5,000 barrels/day, but off the Falkland islands, far from markets & in a distinctly hostile environment.