$120 Million Current FCF!!! Chen is saying that he talked with the CEO Jeff Chisholm - POE is currently producing 4,000 bpd which will yield $120 million at current prices in cash flow. That is right $120 MILLION!!! RIGHT NOW!!! $2 per share in income. We have $60 million on hand in cash or $1 per share.
Current Market Cap = $240MM
Cash on hand = $60MM
Value Rest of Company = $180MM
Current Earning = $120MM Year
Earning = 1.5x current market valuation
P/E = 2
Plust
Plus the oil sands in Canada that are up for sale (I am adding that point).
Catalysts
1. L53D - we have only drilled 1 of 6 zones. Expecting huge cash flow out of Thailand.
2. Indonesia - could be even better
3. Thailand - 12 drill program starting in May
What I am inferring:
So with what POE is making right now we should be priced at $11-12 per share x5 FCF + cash, once the market gets a new P&L from the company in a few months with the 4,000 bpd pricing it will be more obvious... Any of the other 5 bullets goes right for the company... and who knows I guess the blue-est blue is what you could be looking at.