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Interoil Exploration $IOX has a market cap of only around NOK 65 million (~US $6 million).
At $90 Brent, the company could generate an estimated $56–59 million in annual revenue and roughly $10–20 million in annual net profit, depending on production levels, royalties, taxes, and financing costs.
A company potentially earning 2–3x its current market cap in annual profit while being valued at just ~$6 million is hard to ignore.
If oil remains elevated, which is likely with the war in Iran, the market may have to reprice IOX.