TSXV:CEN.H - Post by User
Comment by
CalifDreamingon Nov 17, 2008 6:46pm
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Post# 15591619
RE: cheap at $2.00
RE: cheap at $2.00Cheap is right. But so is a lot of the peer group. CEN needs to show us the money. They need to meet (and hopefully exceed) exit guidance. No screw ups in completions please! No failure to get the MOPU hooked up on time.
While I really liked guidance, I wish they had waited for the second and third wells to be tested before giving it out. The market wants to see proof rather than guesstimates (let's not be another OIL that chronically misses guidance). And without actual production numbers, they are taking a needless risk of missing guidance.
11,000 boed and EV of around $230MM = $20K EV per flowing boe. I've seen cheaper in this market, but few have $500+MM in 2P reserves of sweet crude/gas, are growing very fast and have some very tasty fields and prospects to drill with relatively low cost in the near term.