TORC Oil & Gas Ltd. T.TOG

lexvest: there's no new news to tell

[greeneggs]

The info is out there.
80 million barrels of unbooked light light top of the line oil resource.
That's on top of the booked 65 million boes, which has some gas in it, but mostly light oil.
Trouble is these dolts have hedged half of this years production in the 75-90 dollar range.
And because of the dimwit investors and analysts who value based soley on cashflow, which is hampered
because of the braindead turd hedges, we won't see the true value of the company. i.e cashflow run rate is at the 4 dollar annualized run rate.
If I were in charge, we would've doubled cap ex, locked in oil in the 130-140 range, and despite the hedges we would be locked in at a 8 dollar a share cashflow run rate by the end of the year, and with it we would convert more of these 80 million barrels in unbooked resource into reserves.
In the press release I would point out an exit rate in excess of 25,000 boe/pd and predict 35,000 boepd next
year, I would also point out with the unbooked low risk resevers we could produce at 35,000 boepd run rate for over 11 years without spending a single cent on aquiring new land.
And with it we would have a share price of 30 dollars.  When of course the company would be dirt cheap at 40.
Remember 80 million barrels of light light oil, which is no value is recognized as all, is worth well over 4 billion dollars on a NAV basis (35 dollars per fully dilled share), and that's with 100 dollar oil.
That's on top of the 20 bucks a share the fully booked reserves are worth.
20 plus 35 equals 55 dollars a share. They could sell it for 35 dollars tommorrow if they opened it up for bids.
Yet here we sit at 17 bucks.