RE:RE:RE:RE:a different perspectiveTo refute your statement " I knew you couldn't post squat" please read the following:
Energy Producers - Internationals Recommendation: BUY Unchanged Risk: HIGH 12-Month Target Price: C$0.25 Prior: C$0.30 12-Month Dividend (Est.): C$0.00 12-Month Total Return: 92.3%
TD Investment Conclusion Although the stock is not obviously undervalued on valuation metrics such as Base NAVPS and 2015E EV/DACF, we are attracted to Petroamerica’s highimpact exploration drilling upside potential. In particular, we see significant upside potential associated with two wells expected to be drilled over the coming quarters, for which a majority of costs will be carried by Parex Resources (PXT-T) under two separate farm-in agreements. We also expect that a likely stock consolidation and potential graduation to the TSX should make the stock more investable for institutions through 2015.
Justification of Target Price Our target price for Petroamerica is based on a combination of 0.95x Base and 0.75x Upside to Base NAVPS. A multiple of 0.95x Base NAVPS is normal. However, our 0.75x Upside to Base NAVPS is slightly above the average multiple that we use for our coverage of International E&Ps because of what we see as relatively strong management and finances. We currently use a range of 0.15x–0.85x in terms of our multiples of Upside to Base NAVPS.
...but let me guess TD Waterhouse are a bunch of hacks...right!