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Long Run Explor Ltd Ord WFREF

"Long Run Exploration Ltd is engaged in the development, exploration and production of oil and natural gas in western Canada."


GREY:WFREF - Post by User

Comment by pppon Dec 01, 2014 8:15pm
297 Views
Post# 23183661

RE:RE:Caution

RE:RE:Caution
LRE's enterprise value is a touch over $1B now, or about $27K/boe. That's about half of similar companies. LRE is riskier due to their high debt load. Does the risk justify 50% lower valuation? I personally doubt that. I also doubt that the dividend is much of a factor because it can be cancelled quickly (and should be cancelled or lowered to 1c in Dec, IMHO).

This is why I think they will be taken out in the near future. Same thing happen to Renagade
before Spartan took them out. This would be a coup for a company like Whitecap. No one can
develope assets for 27000 a bbl.
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