GREY:AVNDF - Post by User
Post by
pwalk140on Feb 27, 2013 4:29pm
214 Views
Post# 21051132
CHX vs AVF
CHX vs AVF No I'm not a AVF holder, I'm a CHX holder, but has anyone done the comparison between AVF and CHX after the ER sale on operations? Here are some number from the 3rd quarter 2012 financials excluding ER. ($,000's)
BOE/d - CHX - 3139
AVF - 3745
Op. Expense CHX - 4016
AVF - 6681
Revenue - CHX -9.4
AVF - 16.3
The difference in the revenue is due to the hedging program. All things the same excluding hedging AVF is no different than CHX except for the additional cash and available credit.
Now, I agree, this is a VERY simplistic view, but this should show some indication where AVF SP will go assuming no other opportunities come along. End of the day I believe that CHX and PCE will merge, with or without AVF, and Charger's management will take over from the current Pace management. That leaves AVF with their current management and the same production levels as CHX with no dividend, and some cash to drill and try to increase production or hope it keeps them afloat until a takeover comes along with a AVF SP sub $1.00.
Thoughts?