RE: RE: Director Paul Colborne...... He;s buying Surge (SGY) hand over fist as well.
I think Surge and LEG are undervalued as compared to the peer in the sector WCP.
Compare to one of the best performers in the sector WCP.
SGY will exit 11,000 boepd, 92% oil and ngl's, $35 per boe operating netbacks. Oil drilling inventory at 570 locations. Reduced operating, transportation and G&A across the board.
$275 million credit facility. 1.6X debt/exit annualized FFO. Mkt cap $383 million
WCP will exit with 15,000 boepd, 71% oil and ngl's, $43 per boe operating netbacks. Oil drilliing inventory 850 locations.
$450 million credit facility with 335 million of debt. 1.3X debt/exit annualized FFO. mkt cap $1.13 billion
is the massive difference the fact that WCP will be paying a divy/providing a yield and limiting growth? has to be because as it stands when you do the comparison WCP is not 3X the company on any of the metrics presented.
Rarely do opportunities present themselves such as SGY at present shareprice. Some funds are getting massive redemptions and taking massive tax losses.