RE: RE: RE: RE: Net asset value Yes, you are missing something. Production is 14,000 BOE 50% oil and liquids.
You must add on the debt to the markey cap. so (100 + 220)/14 = 22,800 per Flowing BOE.
Which is still quite cheap.
What is more remarkable is the value that is placed on the 68M BOE of 2P reserves which
are 50% oil and liquids. (100 + 220) / 68 = $4.70 per BOE. And this figure could be adjusted
further if one takes into account their vast undeveloped land holdings in the deep basin and
further adjust for the fact that their Ferrell Creek holdings are in the midst of the huge Montney
natural gas basin and are bound to contain at least a TCF of gas.
So what am I missing, and have been missing for some time?