Believe that our SP climb is starting, all aboardCFPS fully diluted is forecast by RBC for 2012 with Athena producing at approx $1.10 per share, starting from Q4 2011. RBC believes IAE will by at 23,000 bopd end of 2012, so that again doubles our cash flow to approx $2.20 per share, as the $1.10 is based on approx 10,000 bopd. Higher CFPS if Brent is trading higher then $110 per barrel, entirely possible.
Therefore end 2012 with the addition of Stella, our CFPS will double again from 2012 of $1.10 to $2.20, IAE multiple, seems to trade at 5 times historically CFPS so we should see a rise from these prices up to $10 per share...sometime in H2 2012. I would kick myself if I sold shares too soon, and watched it rise to $10 and got out too early,
Still believe that IAE is a potential takeover, hope that it happens later and not sooner, anyways firmly believe we are lifting off from here to $10 if you stay around to end of 2012, pretty good return for 1 year or so, 400 per cent.
I can not find a single better opportunity with little downside risk anywhere with such good fundamentals, zero debt, $175M cash, and great growth production profile, I have been looking but yet to find anything better