RE: Topdude, lovely rant
I am in at 0.19 on IAE, made quite a bit in the meanwhile trading a small part.
It'll take 2 years before IAE will hit around 15.000 boepd. in the meanwhile they will run 5000 boepd in 2010. With a purchase and if we're very lucky 7.000 boepd. At 45 Us netbacks x 330 days of production that is 104 mln $ devided by 170 mln shares is 0.61$ = 0.65 Cad. 4x cf, to humour you, brings $ 2.60. For jr's it's more likely 3x cf is cad 1.95.
Now let's take 15 k production at us 45 netbacks is 223 mln devide by 170 mln shares is $ 1,31 times 3 is around 4 $. that's 2 years from now, if everything goes well.
Am sure oil prices will rise but 10$ within a year is ludicrous Dude. As expected the Dude got to you, cows are easy to feed. Say something intelligent and you'll get a worthy response. Otherwise go play in the sandbox until you learn about reasonable value calculation, even if madly positive.
bb,
R.