TSXV:CEN.H - Post by User
Comment by
CalifDreamingon Mar 25, 2009 3:24pm
210 Views
Post# 15870348
RE: suspicions
RE: suspicions any reason for this increase in share value today?
No reason other than the mere fact that production is significantly better than expected (well ahead of their pre drill expectations when oil was $80+ and they had a 40+ well campaign planned this year). And based on the info in the new Investor Presentation, reserves have gone up ~500+% at Songkhla, more than doubling offshore reserves with just a few wells.
CEN is grossly undervalued. Trading less than 2x current production cash flow and about 1x exit '09 cash flow vs the peer group that is trading 4-8x higher.