RE:3$based on where the average Canadian producer between 10,000-20,000 boe/d trades 6.5X-7X 2016 DACF (strip prices) this thing should actually be trading at $3.80 today
It is also higher quality than 75% of it's peers from a margin perspective and 100% of it's peers from a balance sheet perspective
the lack of communication related to analyst/investor concerns on Gas to oil ratio, inventory of quality locations at Ante Creek (I just read an Alberta well report for August and these guys had 3 of the 10 best wells in the province) and what they are doing with land acquisitions (Dundee said they acquired 65 Gold Creek Montney sections).
One of the most interesting observations related to this company trading at 3.3X-3.5X the strip price is the absolute lack of credit for strong balance sheet, having some of the best wells in Alberta, self financing at $45 WTI, very strong netbacks at low prices, and still very successful recent well results from new Ante Creek and Waskahigan
Very odd