Long Run Explor Ltd Ord WFREF

RE:RE:MIE

[qwqw]

The trading comparables on pg 31 are in decending order of EV
When you go down the 2015E production column you will soon notice
why LRE got their attention.
 
From pg 3 "EV / Production: C$33,672/BOED (2Q2015)" ??????
They have a strange way of calculating EV,they used an EV of $1.15 bil,
they added the extra $200 mil MC and left the debt alone ???????
"EV= C$258mm (current diluted equity value) + C$201.5mm (new equity value) + C$626mm (syndicated loan) + C$75mm (convertible bonds)"
EV / Production is actually  C$27,500/BOED (2Q2015)
"EV / 2P: C$6.80/boe" should be $5.75
How often do you see a company overstate what it paid for another???????