There are so many variables that go into determini

There are so many variables that go into determining what the net profit is and thus what the PPS is.   Eventually, when Treaty becomes profitable, there will be a relationship between barrel per day, expenses and PPS.  How big is our mortgages on all our properties, are we splitting expenses and revenue etc in a joint venture arrangement, transportation costs, labor, storage etc.  From what I understand we are spitting the revenue and expenses on the Mitchell with TNC.  On the standard lease I believe all the expenses such as drilling are ours but the revenue is also minus expenses and royalty expenses.  Assuming we get to 250 BPD and it's a lease controlled by us with no sharing.   That's 250 Barrels per day times $95 a barrel which is $23,750 a day times 365 days Which is about $8.5 million.   With a gross profit ratio of 65% which gives a net profit about $5.5 million.    Stocks sell at multiples of earning and with a stock like Treaty with so much in the pipeline 20 times earnings is used .   This gives a valuation of about $110 million. With 1.2 billion shares gives a PPS about .09.   If all the revenue came from sources such as the Mitchell where we are sharing revenue and expenses this would be cut in half to about .045.  Again, this is focusing on just those well costs.  There are other expenses like corporate, mortgages etc. that will have to be paid from this revenue.