Paramax should be trading higher than BUKParamax has 143 million shares outstanding...while BUK has about 190 million.....thats about 35% more shares...
With BUK trying to sell it north Sea assets...they should be able to cover off their debt with the proceeds (Just a guess)
We all know Steamboat has the potential to be big...but does its value offset the differential betwen the share price of the 2 companies...
Bridge has a market cap today of $93 million (49 cents)
Paramax has a market cap of $66.745 millon (47 cent)...
Since the bulk of value of both comes from the shared interest in there gas property (50% each)...Does the difference make sense?
Thoughts?
T2
P.S. Just a heads up... I used the fully diluted numbers cuz trying to find the "real" up to date basic number has become a bug hunt these days..