GREY:DPGYF - Post by User
Post by
Myrtlesmanon Feb 12, 2014 9:22am
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Post# 22199182
Operations update: what's not to like?
Operations update: what's not to like?
Some takeaways:
NAV=$3.41; even if 20% discounted would be $2.72; way undervalued
Debt plan seems to be working: Total debt at year end 2014 is expected to be between $145.0 and $150.0 million versus between $135.0 and $140.0 million at the end of 2013. The total debt to funds flow ratio is forecast to drop to 2.2 times in the fourth quarter of 2014 and reach a targeted 1.5 times in 2015.
Growth abounds: Delphi's business plan contemplates production growth to 20,000 boe/d by 2017, with targeted annual production per share growth of 25 percent and annual cash flow per share growth of 45 percent.
If economic engine continues to turn, DEE should be pushing $3.50 before year's end. Let's hope-been holding a while.