Twin Butte Energy Ltd TBTEF

RE: RE: RE: The BTE effect

[bshort92]

Mud/John: Getting Keystone approved will hopefully be a plus as far as the transport
issue goes. Also once that BP Whiting refinery is up and running (presently
being upgraded)it will be a strong catalyst as well.No doubt the market is very
comfortable with BTE. They pay a .22 monthly dividend. Currently they are
producing 54,384 boe/d 92% oil or $104K per flowing boe. They have 121,867,561
shares out. Market cap at today's close of $46.43 a share is $5.65 billion add
in $480 million of debt (inc. $104 million drawn on a $700 million line) gives
them an enterprise value at $6.1 billion. They have p/p reserves of 234 mmboe.
TBE has 248,600,000 million shares out trading at $2.68 a share gives them a
market cap of $666 million or $35,500K per flowing boe. Add in $208 million of
debt and TBE's enterprise value is $875 million on close to 90% liquids
production.TBE's dividend payout is .016 a month. They have app. 60 mmboe of p/p
reserves. So there you have it: TBE produces just over a third of what BTE
produces but gets only 1/7th the enterprise value.The market clearly likes BTE
over TBE but maybe that reality is going to close perhaps like the extra wide
heavy oil price differentials are prognosticated to do.But ask yourself: Why is
BTE announcing participation in no less than four investor conferences and TBE
not one? Getting the word out to the investment community certainly can't hurt
the plight of TBE. So why not try selling the story with a little more vigor.