RE:RE:BIR Current Fair Share ValueDonhow wrote: I thought the preferred cost $88 million for 3.52 million shares at $25. They save about $3.5 a year because they don't have to pay preferred dividends. That make a slight change in your calculations of around 90-150 million. Consider the cash flow to be around 1000 million per year sustainable at $3.50 gas and $70 oil for maybe 25 yrs. By this time next year they could pay $1.00 dividend and have $400 million cash after capital expenditures and increase production by %15. Unfortunately they issued 1,600,000 options @ $9.30 yesterday and after they priced their own options the company bought back 300,000 shares. Still worth $20 unless BIR gets bought before it gets there.
Excellent work Don good to see someone paying attention, yes correct on the 88mil unfortunately no tax savings against that amount so adjust accordingly again from there on flow thru cash expense.
Wow your pie in the sky analysis begs another look, Tonkin's been selling the same story for years for those in denial of actualities, how could all the analyists covering this company be so wrong lol.
At least I have an excuse lol, I'm just a peon with an opinion lol, the 4 years or so I was fully vested in this company proved it wasn't worth the wait for me to full value as it was turning out. Still profited very well as I stated in past postings but the goal is making money ongoing is it not so sitting and waiting doesn't quite do it thanks.
I prefer buy and sell undervalued opportunities wherever they best present themselves based first on financial metrics for defining unrealized value supported by various time frame long and short technical charts. Nowhere does your analysis for $20 currently have support for anytrime in the foreseeable future.
Good luck with that wait anyway and Merry Ho Ho, cheers!.