GREY:AVNDF - Post by User
Comment by
caiusbritanicuson Jan 10, 2013 1:35pm
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Post# 20821308
RE: RE: Good to hear this...
RE: RE: Good to hear this... The Charger chart you are seeing in all likihood has some form of numbers from Seaview as that is the only company of the four prior to the March 2012 plan of arrangement that had a stock exchange listing. Having said that, Charger still fell from the $2.30-$2.40 range to it's present price if memory serves me correctly. My view is Charger has a good land package but being saddled with debt, they are unable to exploit their land position.
Charger and Pace merging makes some sense from a personnel point of view but I don't think the lands are all that complementary. AvenEx has a diverse land package that seems to tie everything together from what I could see looking at the maps. As they said in the call, they'll review all of the lands and do some non-core sales down the road that will hopefully be applied to the debt load although I don't think they specifically said it would be aplied to debt.
As for creating value, you would have to follow Founders Energy through to it's Provident Energy Trust days. I came up with a $17-$18 per share value at it's peak but perhaps someone who had an interest in the company can provide a better number as I was involved in other energy trusts at the time
Take care
CB