RE: RE: RE: Expectations have been lowered??Based on the company's financial model, Durango would be valued at $143MM using the most conservative assumptions for the backout (vs. > $200MM using more favourable assumptions). That's approximately 25% of the company's market cap.
I think everyone posting has an appreciation of the time value of money and would prefer that the cash flow be realized sooner rather than later, especially in these conditions. As you have stated, the backout issue is still unresolved. But, BUK's management has no intention of waiting that long to get paid for their gas. We will all have to wait to see how the backout issue plays out. But regardless of the outcome of the backout, there would appear to be value in Durango that isn't reflected in the current share price. Although some analysts covering the company are in the process of revising their share price estimates downward, the base that they are starting from isn't $0.30 or $0.40, it's $1.30 and $1.25. Just something to keep in mind.