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Bullboard - Stock Discussion Forum Longford Energy Inc V.LFD

TSXV:LFD - Post Discussion

Longford Energy Inc > Probably a carried interest
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Post by good40 on Jan 06, 2012 12:01pm

Probably a carried interest

The worldwide average of undeveloped oil in the ground,  appraised to be classified as 2P... is less than $5 per barrel.  For $50 million,  Genel could purchase 10 million barrels undeveloped, already proven to 2P.   This is strictly exploration,  no proved reserves,  more than a 90% chance that it is non-commercial.

 

LFD has $27 million in liabilities,  Genel could assume those liabilities in exchange for LFD retaining a small carried interest. They could add a few sheckles just to give LFD a little working capital for 2012,  but that's about it.  Anything more than this... and you're talking amounts that could purchase proven assets.

Comment by nicky1969 on Jan 06, 2012 12:10pm
goofy...you are an A$$wipe !!!  Trying to say that LFD is worth only the 27 million that Genel would  pay out the liability!!! 
Comment by alstra32 on Jan 06, 2012 1:52pm
As I said yesterday, he usually leaves the board daily around 2pm est to go to his McJob. He did again yesterdy.
Comment by oexel on Jan 06, 2012 2:02pm
To be fair, good40 did call lfd spot on a year ago.  Mind you the entire market has been very bearish and most of my microcaps have had a VERY rough ride.  Still at 0.40 good40 did say this thing would end up under 10 cents.  Thought he was crazy at the time.  Maybe he is a basher that just so happened to be right for once but nonetheless....his record is better than those of ...more  
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