GREY:WFREF - Post by User
Post by
forkliftguyon May 22, 2015 5:12pm
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Post# 23756133
Long Run vs. Spartan Energy
Long Run vs. Spartan EnergyI used to own Renegade . When it was under a dollar a share , everyone , including Eric Nuttal of Sprott was going on BNN market call and saying what a lousy investment it was . All of a sudden it was bought by a small company , Spartan Energy . No sooner was it bought than Eric and a number of other guests on BNN were saying how great this company is . I personally don't get it . It has a market cap of 866 million dollars . There are 265 million shares outstanding and it is producing less than 10,000 BOE a day . I realize that it has a much lower debt level . Long Run has a market cap of 159 million dollars ; there are 194 million shares outstanding and they are doing 32,000 BOE a day . Even up for the long term I would take Long Run . It is trading at 30 % of book value . The big reason given for why we should buy Spartan is " The Management " . I would assume that Long Run has some smart people running it also . What it needs is for some BNN Market Call guests to start recommending it . By the way , I am still a little bitter from my Renegade experience .