GREY:CXEYF - Post by User
Comment by
mind_businesson Oct 31, 2012 11:14pm
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Post# 20548193
RE: RE: Producing 700 bbl/d
RE: RE: Producing 700 bbl/d BB, I no longer predict bottoms of these speculative stocks. Your guess is as good as mine. Looking at some past and current valuations may give us a better idea of what we can expect for a reasonable exit point .... for at least a portion of our shares.
At its peak (2006): Candax Market Cap was: $1.75 x 160.3M shares = $280.5 million (Largely due to higher production rates, and Chaal test well hype)
Today, Candax's Market Cap is: $0.035 x 1,068M Shares = $37.38 million
Looking at your sell target of $0.10, CAX Market Cap = $106.8 milion
To achieve this valuation, I would suggest that CAX needs to double it's production, plus have solid plans to execute the deep triassic test wells. Of course, my opinion only :)