RE:RE:RE:RE:Sum-of-the-parts Valuation - revisited
I agree with the risks outlined by Avalonshark however I don't think it likely the retailers will get squeezed here. This whole re-org is being done to unlock value.
With regard to the nunber of rigs working, if and when the project is a go, there is clearly a case for all 4 rigs to be working and for many years. The wells currently producing have been depleting for some time now and I don't think there have been any new wells drilled in many years.
Management anticipated more demand for their rigs by now, but that demand could be just around the corner.
The big discount in share price to actual value is more a function of lack of coverage and awareness than anything else. That should change in the very near future.
Would be nice to see some NCIB action in the meantime to provide liquidity and support the share price. All my humble opinion.