RE: RE: Jennings TargetWell they were right about their forecast for oil prices, as well, 1-yr target price for LEG is $20, but it's probably factored in a possible buy out,
i'm not sure about their long term gas forecasts, only because their is a lot of supply right now with shale gas and all, but they stuck to their guns because when you compare their sept 16th report it was similar to their forecast now.
i think it was already mentioned, eric nuttall thinks fair value for this company is about $15.00/share, but this is considering their Spearfish and Turner Valley play's which don't have much "bookings" (what i thought he meant was that there wasn't any 2P reserves related to those plays)
does anyone know when they acquired the spearfish and turner valley land holdings? Because this should have showed in their Reserve Report in 2010.
Eric Nuttal's calc for the 2P NAV was $10.25, while Jennings capital calculates it at $11.79, so i'm not sure why there is a discrepency, but if i had to guess they maybe had less undeveloped land, or less warrants?
but even if u avg their 12 month price target it's $17. I can live with that.