Antrim Energy Inc. ATGYF

RE: Bought back in

[xyellowknifer]

We have had this discussion in pasted years (can't believe its been that long). You can evaluate the share price by a number of means; cash flow multiples, reserves, production, etc. Simply put, if we assume that the 30,000 bopd predicted by management comes true then the production value is 30,000 times $50,000 per bopd or $1.5 billion less the capex which could easily be $200 million. The value of Antrim at 30,000 bopd is probably $1.5 billion - 200m capex = $1,300,000. The diluted share price then is app. $12 per share. If additional production or reserves are brought on then the price will increase. Obviously, if the price per barrel increase, so will the value of a flowing barrel of oil. It is for each of us to determine our own idea of value but I for one will not be selling my stock until we achieve our maximum production. New discoveries in the years ahead would increase value but based on the number of diluted shares outstanding and the production opinion of Antrim management, I think that the SP will be $12 in 2009.