GREY:PMGLF - Post by User
Comment by
Squint1on Mar 30, 2010 9:46am
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Post# 16938696
RE: Nice Problem to Have
RE: Nice Problem to HaveBased on the press release info, I estimate the current capability at 58,280 bbls/day. - 43980 from the three Candelita wells (12580,15800, and 15600) and 14,300 bbls from all other properties ( 53000 less 38700). Q4 cash flow was $47.00 per bbl based on their Q4 release. Adjusting for the higher royalty rate on Candelita and using the same pricing, cash flow should be approx. $44.74 per bbl. and assuming fully diluted shares of 112.1 million, the cash flow per share should be $8.49. If the same multiple as in Q4 is applied - 4.64 - the shares should be worth $39.40 without any assumption of new wells and production growth.