RE: RE: RE: RE: Aprox 135 million shares ......... "They keep their jobs and options the shareholders have received squat , no dividend or SP increase while taking on all the North sea risk. Growing market cap satisfies alot of corporate egos but doesnt fill a wallet. "
Sure it does. IAE doubles production this quarter. It may take a bit for the market to completely digest that. In the meantime, we are in a bear market (and I'm sure we all hope it's short term) so successes for anyone are going to be a long time being fully valued. In another 18 months, IAE doubles production once again. Inside two years we should see somewhere between $4 and $8 per share, which will make my wallet bulge nicely. If your timeline is weeks, you missed the boat, if you are a patient buy and hold Warren Buffet style value investor, it's not a bad time to buy imho.
With over 500 million in expected cash flow by that time, share price should reach between $6 and $7 (here I only use a 3x cash flow multiplier since that's at peak production before decline eats in). Now if management does their job and provides us with future increases in production as well as starts paying out some dividends, that multiplier could be higher.
The down side is that there's risk between now and then. Economic risk, performance risk for production from Athena, timing risk on getting the GSA hooked up etc. Other side of that coin is unexpected upside - economy improves, production and reserves increase for Athena, GSA hookup goes faster and smoother than anticipated, management makes astute acquisitions and so forth.