GREY:TSCAF - Post by User
Post by
bullbleepon Aug 21, 2014 11:09pm
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Post# 22867702
how cheap?
how cheap?some larger blocks have traded recently around the 38+ cent range and the market appears to be handling these without much of a problem. And so the price is obviously capped until this overhang is cleaned up. Production should be about 700 bopd, before the Rutland well comes on. And two more drills in Evesham underway. Just a guess as to where we will be at if all these are successful and put on....but lets say 850+ bopd. With a market cap and debt, of say $6M, totaling just under $26M, that gives a value of $30,500 per barrel day. I would think heavy oil assets are trading in the $50,000 and up range.