CIBC Report 4.25 Target Price
26,800 BOE far lower than 2011 industry avg of 46,900 BOE ...attribute to low gas price
Discounted vs Peers in junior oil space , questions ability of team in oil space
anyways.......I think there is an outside chance for another company to pay 35,000 BOE and add 80M to the purchase price....., plus the deal metrics are low enough to ensure this deal gets completed. I think there might be some room to run for this dog still.........Oil / no debt/ potential for bigger bid/ nav - low to fair value
kudos to mgmt for pulling the trigger