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Crown Point Energy Inc V.CWV

Alternate Symbol(s):  CWVLF

Crown Point Energy Inc. is a Canada-based junior international oil and gas company. The Company is involved in the exploration for, and development and production of petroleum and natural gas in Argentina. The Company’s projects include Cerro de Los Leones, Tierra del Fuego and Chanares Herrados. It has a 100% working interest in the 101,208-acre Cerro de Los Leones Exploration Concession located in the Neuquen Basin. It has a 34.74% non-operating working interest in the Rio Cullen, La Angostura, and Las Violetas Exploitation Concessions in the Austral Basin of Tierra del Fuego, representing a total of 489,000 gross acres (169,880 net acres). It has a 50% non-operating working interest in the Chanares Herrados Exploitation Concession in the Cuyano Basin, representing a total of 10,057 gross acres (5,029 net acres). The Company’s subsidiaries include CanAmericas (Argentina) Energy Ltd. and Crown Point Energia S.A.


TSXV:CWV - Post by User

Bullboard Posts
Comment by mjh9413on Aug 17, 2019 4:54pm
364 Views
Post# 30039966

RE:Crown Point earns $272,779 (U.S.) in Q1

RE:Crown Point earns $272,779 (U.S.) in Q1I,ve looked at this company twice to see if good longer term investment. I have tried to reconcile how the coy came out of the Apco deal after the ROFR's were complete. They ended up with 9% of the Apco interests once the ROFR's were done. They correspondingly gave up 16%. Effectively they paid $32MM for the Apco initial 25%, got $18 MM back from the ROFR's purchase of the 16%,so ended up paying $14MM for 9% when the vaue of 9% based on the initial purchase of Apco was $11MM. Was it a good deal given what they have left? Did Apco give them other assets worth $3MM? Bit simplistic  looking at just the deal for Apco and the final result but my question for tose who know the company better than I do is whether Crown is good value going ahead with the final assets it owns. I like th div policy but it has to be sustainable. Thanks.
Bullboard Posts