Journey Energy Inc T.JOY

Alternate Symbol(s): JRNGF

Energy Oil & Gas E&P

Journey Energy Inc. is a Canada-based exploration and production company focused on conventional, oil-weighted operations in western Canada. The Company is engaged in the exploration, development, and production of crude oil and natural gas in the province of Alberta, Canada. The Company is engaged in pursuing growth through drilling on existing core lands in Alberta, implementing water flood projects, completing accretive acquisitions, and growing its overall production and reserves base. The Company seeks to optimize its oil pools on existing lands through the application of practices in horizontal drilling and, where feasible, with water floods. Its areas of operation are along a resource, Fairway, which consists of the Central Alberta and South Alberta. Its Central Alberta includes Gilby-Duvernay, Crystal, Cherhil, Kaybob, Ferrier, and Ante Creek Waterflood. Its South Alberta includes Matziwin, Skiff, Herronto, and Medicine Hat EOR.

TSX:JOY - Post by User

Journey Energy Inc

Bullboard Posts

Post by InvestLargeCon Jul 12, 2016 11:42am

129 Views

Post# 25044553

Journey (JOY) versus Relentless (RRL)

Relentless Resources (RRL) is a junior producer with a balanced commodity mix, same like JOY. It's not like RRL is an oil-weighted producer. Both have the same balanced commodity mix in production and reserves (~55% oil and liquids).

RRL produces about 230 boepd and has 1.1 MMboe proved and probable reserves.

RRL's Enterprise Value is C$10 million, including its net debt of course.

So RRL trades now at C$43,400/boepd and C$9.1/boe.

And JOY with 9,500 boepd and 49.5 MMBoe, trades now at C$15,700/boepd and C$3/boe.

The valuation gap is tremendous. JOY is irrationally undervalued.

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