RE:RE:Kelt is trading at 25% of NAVThe reserves report was very good especially in light of the decline of the underlying commodity prices and the NAV impact.
There seems to be the feeling that consolidation is coming to the sector. I'm not sure if or when that happens but if it does, I think that the transaction multiples will highlight Kelt's underlying real estate value.
I also wonder if the Board will start to reconsider the capital structure and the use of debt as the anticipated production levels and growth potential would seem to merit this. I'm a relatively debt averse person but I think Kelt is in a different place then it was before and this should be on the table for future capex.
LR