GREY:SDRYF - Post by User
Comment by
ghayeson Jul 17, 2011 9:17pm
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Post# 18840827
RE: RE: SDX Undervalued
RE: RE: SDX UndervaluedThe Google Finance SDX link latest new release takes you to
https://www.gurufocus.com/news/138786/how-is-your-appetite-for-political-risk-part-3--the-new-sea-dragon-energy
this link from gurufocus calculates the NAV as 24 cents.
they conclude
"So we have actually got a pretty good upside to just the valuation of 8.2 million barrels proven and probable reserves. What might the upside be? Management estimates that they have exploration targets with resource potential of 340 million barrels. So against the booked reserves of 8 million barrels it isn’t going to take a great deal of success to materially increase the net asset value of the company."
I am sitting on my shares with no expectation of any price movement until a few months after a stable egyptian government are elected, and after some more succesful drilling is completed. But as the articles concludes current price is against 8 million bbl pp and they have 340 million bbl potential to go, and based on the evidence of previous successes the current management team are the ones to build this company.