BOE and AZA valuationThanks to Cocomg from the BOE board for the info:
https://finance.yahoo.com/news/apco-signs-merger-agreement-pluspetrol-103000032.html
Cocomg evaluation says:
https://www.stockhouse.com/companies/bullboard/v.boe/americas-petrogas-inc?postid=23002054
APCO sale metrics and BOE
APCO have 530,000 net acres (70% in neuquen)
The offer is $427 mil
EV is $427 mil - $35 mil in cash + $3mil in debt = $395 mil
EV/ net acrees = $745
Americas petrogas (BOE) have 980,000 net acres
EV 980,000 X 745 = $730 mill
PPS 730/ 230 = $3.17 per share
Comparing that to Azabache (by Cabrio)
Azabache has 82,901 acres in Covunco
plus 82,533 acres in El Corte
Agenttina 165,434 acres total in Argentina
EV 165,434 acres x $745/acre =$123,248,330 with 179 million shares outstanding
Based on the APCO sale, AZA Evaluation is 68 cents per share (current share price is $0.095) or 7 bagger from here