Reserve life issue finally resolve
Most of the longs here always thought the main issue with this stock was the sort RLI. Now, with the addition of the SRN reserve and the new report that just added around 100 MM$ USD of pre-tax 2P reserve, the stock finally seems to be breaking out.
When you think about it, 100 MM$ USD of reserve is around 110 MM$ CAD, which on a fully diluted basis (and i know i shouldn't count the warrant at 0,75 that aren't worth anything at this point, but anyway), 10 cents - 13 cents on a non-diluted basis.
this stock was always undervalued on all metric (EV on CF, EV on DACF, EV on production) but never on a reserve basis, now that it is with the new report number, the market is finally reacting and with high volume that is...
love friday :)
White