RE: Legacy Comparison To Petrobakken Very interesting When2Buy, good work. I agree with you that PBN is a good buy now that they have fixed the debt problems and as a long suffering shareholder it pleases me greatly. Haha. I think, or at least really hope that LEG is able to beat 10% at least for the next year or two. I don't think Legacy is a value play at all, it has a premium built in for the management and land package. Management just needs to make use of their expertise and land and suprise on the upside. Nothing else really to say, if they hit 10% which is the low end of the guidance I think everyone will be a bit disapointed. The one thing I will say for Legacy is for 2011 the average yearly production was like 12,000ish boe/d and for this year it should be 16,000ish boe/d. So the Year over year growth is like 37%ish. Which leads me to believe that the growth in cashflow would be considerably higher then 10%. The exit growth is in the 10-15% range. What is PBN's yearly average year over year? Just curious and can't recall it and it would probably give a positive boost to your cashflow projections for them as well.
I could be wrong though so feedback would be great.