RE: fair market valueupandaway10.... NXY is worth what people are willing to pay for it period!
Not long ago NXY was worth 43.45 and as little as 13.33...book value is around 13.70 and it's total debt to cash ratio is very small. All this SH has supplied... the real question to ask is what do you think oil will be in 6 months or a year???
And to the other poster ...lashout ...unlike OILEXCO INC who was up to it's ears in debt and had only ONE revenue stream in the North Sea ...NXY has several operations in several locations and is making money even now and very little debt. Why would you even think of comparing these two companies is the bigger question??? Just because of their North Sea ops????
I bought 300 more today for a total of 16,800 and that's it for my buying... I am done buying...but I still see a spring take-out or merger and like I have been saying.... I am told it will be IMO, or PCA ...no guarantee as this info was third hand. But I can see it as a possibility. IMO could do it as an all stock deal ...I would take .75 IMO share for my 1 share of NXY... no problem.
If you don't think oil will go up in price.... then I wouldn't buy ANY oil stock NXY, CNQ, SU, or COS ... any of them!!
If you think oil will eventually go up then buy...and wait it out. Sell some call options to hedge yourself and be patient.
Cheers