OTCPK:ARNBF - Post by User
Comment by
ThompsonRob007on Jul 20, 2014 11:01am
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Post# 22763371
RE:RE:RE:RE:RE:Fire the lot
RE:RE:RE:RE:RE:Fire the lotPrior to the deal being announced I like what I saw with respect to the last wells, cost discipline, and the OPEX holding in at that $16/bbl range.
I don't like the hedges or the high interest costs. Opex at $16/bbl and the hedges and interest total almost $25/bbl?
What I don't understand is why another company doesn't step up and pick it up for decent $'s ? At $100k per flowing barrel this is a $400MM company = 100% of bonds paid + 70 cents/share. The same deal vales the 2P reserves at $10/bbl and buys at a fraction of NAV. Great metrics across the board!
Aspen Leaf is buying a good asset and getting a great deal, Arcan gets to push the restart button.