GREY:ZARFF - Post by User
Post by
stockfyon Feb 12, 2018 9:18am
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Post# 27543663
ZAR's NAV: From C$1.40 to C$2.69 per share (new 2P report)
ZAR's NAV: From C$1.40 to C$2.69 per share (new 2P report)New reserves report is out today proving that Zargon trades at a very deep discount to the net asset values calculated for all reserve categories:
https://web.tmxmoney.com/article.php?newsid=5978062792505175&qm_symbol=ZAR
"Zargon’s year end 2017 “produce-out” proved and probable net asset value is calculated to be $2.69 per basic share. On a proved developed producing basis the “produce out” net asset value is calculated to be $1.40 per basic share. "
Additionally production will rise slightly in Q1 2018 compared to last year and the previous quarters, so it seems that ZAR's recent workover and recompletion work has yielded good results and ZAR's production has become more oily (80% oil and liquids):
"With the natural gas shut-ins, we are now forecasting first half 2018 production to average 2,525 barrels of oil and liquids per day, which is comprised of 2,050 barrels of oil and liquids per day and 2.85 million cubic feet of natural gas per day. "