RE:RE:Why so undervalued?This one was taken out behind the shed when they over ran their budget and blew their cash wad when their first well into FV had drilling difficulties which could not be mitigated due to non availability of drilling tools.
As a consequence, they had a significant working capital position.
Since then, they have hunkered down and paid of their debt and now have robust cash flows which has restored their WC to positive $1.4 million.
No drilling has been done to develop their excellent properties due to lack of funds.
This lack of growth also contributed to its very modest market cap.
This too is changing.
Over the next year, we are going to see all of their properties receive drilling and development actions.
Plus, they may expand or acquire their gas processing plant which is already a cash cow..its the only one in the province.
Argentia doesnt help but good value always emerges.
MNV is also in Argentina and their market cap is about $275 million and trades at very high multiples.
The current dispute will be resolved once we exit 2014, as the sticking clause in Argentinas debt will have expired..