Delphi Energy Corp. DPGYF

RE:Jennings Capital

[jerrybe]

Thank you for the post. Much appreciated.

Yes, the Wapiti sale did not go through but that is not really a surprise given current market conditions.

The good news is that production is growing as planned, the firm is now trading back to where it was at the beginning of the year. If you believe commodity prices will rebound from these low levels, then DEE is one of the best buys out there.

As the investment note posted shows, price targets, even those revise d downwards are much higher than current prices. There has been a crash in oil and gas markets, period. Now the question is where does it stop...it seems bargains are getting cheaper by the week. In my mind, DEE is already trading at bargain prices at these levels. Problem: Most investors do not want to catch a falling knife, they are waiting for a base to form, or better, a clear rebound before jumping in. In that situation, a bearish note from Goldman gives everybody cold feet. The likes of ECA, DEE, and so many others are trading at significant discounts from book value. GLTA!