I marked you 5 stars :-)

Here it is how you can calculate the valuation for oil and gas companies:

($per boe * prod boe/d) / # of shares

This is how I am calculating the fair valuation for ARW on current 669boe/d production and also on my estimate new production, update that everyone expect to be release any day and can be anywhere from 750boe/d to 1000boe/d) ... I'll use the conservative 800boe/d.

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boe/d = $65000 (conservative)

(65000 * 669boe/d) / 54100000 = 0.80

(65000 * 800boe/d) / 54100000 = 0.96

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boe/d = $80200 (Canada O&G average)

(65000 * 669boe/d) / 54100000 = 0.99

(65000 * 800boe/d) / 54100000 = 1.19

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boe/d = $85000 (Alberta)

(65000 * 669boe/d) / 54100000 = 1.05

(65000 * 800boe/d) / 54100000 = 1.26

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The share price took a small dip because the results were supposed to be released at the end of Jan but were delayed because of the bad weater - see last news release