RE:TOO's exit production for 2016? Lender? High G&A? "The comparisons don't give any hope too...I'm thinking to buy some Point Loma Resources (PLX) for example. PLX is a new producer who grows its production gradually and plans to hit 850 boepd in the fourth quarter thanks to quick tie-ins. No debt problems and the Enterprise Value now is just C$10 million.
While TOO's Enterprise Value now is about C$20 million, although its production is equal to PLX..."
PLX will spend $2.7 mil to tie in the behind pipe thereby increasing EV.
Their total oil production including behind pipe is only expected to be 250 bopd.
TOO's EV is closer to $17 mil. https://www.pointloma.ca/wp-content/uploads/2016/08/Point-Loma-live-080916.pdf