RE:RE:RE:RE:RE:Somethings out-of-whack here....Momo, thanks for getting back with such a detailed response. I wasn't trying to be sarcastic, I was actually happy that you had presented your $per flowing Boe analysis as I hadn't bothered to calculate it for Crew and I was pleasently surprised when I did.
For the record the $ per boe can be a terrible metric when evaluating companies or assets but it is and quick and easy metric to calculate, in my experience it is often used to get a feel for corporate or asset valuations. I included the Inga valuation in my example to illustrate how a high valuation may indicate that there are other factors to consider other than production, when using it.
I noticed you left out my original response to your post which was:
Momo, I did a quick calculation of the corporate $/Boe calculation using EV of $441.6 million (Sept 30 Debt) from December 2020 Presentation and production of 22,500 per Boe/day and $0.56 share price to get $18,861per Boe/day.
Since you weren't able to provide the values you used in your calculation, I wasn't able to understand how you calculated your estimate of $22,000 per Boe/day.
What most of us on this board understand is that Crew is bringing on 7500 Boe/day (IP 90 estimate) in the next 2 weeks from their new 7 well pad, which increases their production to approximately 30,000 Boe/day.
This production increase should lower the $ per Boe/day to approximately $14,719 per Boe/day using the $0.56 per share and the September 30 Debt number. The Debt will have changed in Q4 but I don't know that exact number.
As always please check my math.
Momo, in my world that's not playing fair.
I indicated where I had gotten my info and presented my calculations for your review. You provided none of that information in your original post and didn't respond to my message when I asked you for it.
For Storm you stated:
I have Ev at ~$400M. Now you can look at this two ways for this one. One, CURRENT production is ~20k boepd and therefore being valued at 20K per boe.
Question: How do you know that on December 14, 2020 Storm's current production is 20K boed?
Storm's management team has indicated in the Q3 MD&A the following: Production in the fourth quarter of 2020 is forecast to average 25,000 to 27,000 Boe per day with capital investment of approximately $15 million to finish the completion of a four-well (4.0 net) pad at Nig Creek and to drill two or three wells (2.0 or 3.0 net) at Umbach on a six-well pad.
Who are we to believe? Storm's management or you?
If you are going to use trailing data it would be helpful to at at least let us know.
When doing my due diligence I prefer to try and get an understanding of where these companies are heading and not so much on where they have been.
Momo please keep the posts coming, one can never have too much information.