TSXV:ESR.H - Post by User
Comment by
Spicoli420on Apr 20, 2012 12:16pm
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Post# 19816966
RE: RE: RE: Financials
RE: RE: RE: Financials It's not BS. It's fact. Yes the TSXV has been trading down but LNG has been amongst the worst. Quality companies with cash are doing ok.I'm not bashing I'm just telling you why LNG is getting hit worse than most. Management doesn't communicate, doesn't buy their own stock and they're running low on cash. They are already $5 million in debt. That's a recipe for disaster.
The market cap is about $23 million today. Based on the recent Talisman/Mitsubishi deal, I would say PPL 319 is worth a minimum of $100 per acre which means a value of $50 million. The fact is they have very little cash left and the market is scared that they are going to have to finance down here and tired of waiting. I for one have been buying at these prices because I believe in the PNG land and I believe we are going to get a monster farmin done. Offers are due by May 18. A few weeks after that, I will either have a big smile on my face or egg.