Iron Brdg Res Inc. OEXFF

RE:Seems WTI and WCS went all up and we still are stucked in 50

[ditchdigger251]

The junior oil company I worked for awhile back had its' share price stuck in the mid-60's for months even though production was growing robustly, the balance sheet was cleaned up and land base had grown strategically into an emerging medium depth high initial rate tight gas play with test wells planned within a couple of quarters.  Then "Boom" - in came the takeout offer.  And the stock price surged more than 3x in the space of a few weeks.

If a non-market darling company creates significant solid value while minding its P's and Q's someone, probably a bigger fish, will notice and act to make it their own.  I've played with calculations using a land, production, debt and reserves mix for the takeout value of IBR and get multiples higher than the current sp.  The McDaniel $1.25/share net value, IMO, is extremely conservative.  If a "Boom" in sp is coming in IBR's future I think it will be bigger than I experienced.