OTCPK:ARNBF - Post by User
Post by
hardeeharon Nov 30, 2012 12:28pm
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Post# 20667054
Its Back over a Buck!
Its Back over a Buck!
It appears Arcan is gradually regaining confidence from the investment community, as it appears they have cleaned up their act.
I guess a stock can be punished and the upside potential ignored only for so long.
Recall what Arcan claims they are sitting on. The company has to date booked only 15% (35.7 MMBOE) of the total estimated recoverable reserves of 270 MMBOE (using waterflood) on their Swan Hills lands. That means today's NAV of $4.37 based on 35.7 MMBOE would translate into a NAV north of $25 should those 270 MMBOE get proven up.
Arcan in their last operations update expects waterflooding will translate to incremental reserve bookings by year end 2012 and in years to come.
Stock is way oversold IMHO!