GREY:NKRSF - Post by User
Post by
CalifDreamingon Jul 01, 2012 5:35pm
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Post# 20073766
Now's the time
Now's the time Niko is finally looking attractive value - first time in nearly a decade. Trading at sane multiples - about 5x cf and discount to 2P NPV10 after tax. There are significant unbooked assets offshore India that will be brought into reserves later this fiscal year (ending June 2013) once they get FDP that give me a bit of confidence that an entry is worthwhile - NAV should more than double when FDP is received.
But despite my misgivings about buying plays that need exploration success to move the needle (rather than near term field development driving cash flow), Niko's exploration campaign is virtually unheard of for a company their size - the ability totarget