Join today and have your say! It’s FREE!

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Please Try Again
{{ error }}
By providing my email, I consent to receiving investment related electronic messages from Stockhouse.

or

Sign In

Please Try Again
{{ error }}
Password Hint : {{passwordHint}}
Forgot Password?

or

Please Try Again {{ error }}

Send my password

SUCCESS
An email was sent with password retrieval instructions. Please go to the link in the email message to retrieve your password.

Become a member today, It's free!

We will not release or resell your information to third parties without your permission.
Quote  |  Bullboard  |  News  |  Opinion  |  Profile  |  Peers  |  Filings  |  Financials  |  Options  |  Price History  |  Ratios  |  Ownership  |  Insiders  |  Valuation

Prairie Provident Resources Inc T.PPR

Alternate Symbol(s):  PRPRF

Prairie Provident Resources Inc. is a Canada-based company engaged in the exploration and development of oil and natural gas properties in Alberta, including a position in the emerging Basal Quartz trend in the Michichi area of Central Alberta. The Company has 167,869 net acres in its Michichi core area with approximately 40 Basal Quartz potential drilling opportunities targeting light/medium oil. Its core areas also include Princess. The Company's subsidiaries include Prairie Provident Resources Canada Ltd., Lone Pine Resources Inc., Lone Pine Resources (Holdings) Inc., Arsenal Energy USA Inc. and Arsenal Energy Holding Ltd.


TSX:PPR - Post by User

Post by templetoothon Sep 26, 2016 4:17pm
225 Views
Post# 25279429

Deep Value could get Deeper

Deep Value could get Deeper
Dontcha just love those "on the other hand..." kind of posts??? Here's another.

As has been pointed out by Large, this stock is cheap. Using 100 million shares outstanding and $5 million debt, the enterprise value is ballpark $85 million at a stock price of 80 cents. Hasn't hit 80 cents yet, but I wouldn't be surprised if it did.

With 12 million boes P1 reserves, you're paying $7 per boe. 2P reserves of 18.5 million cost you $4.60 per boe, and $21,000 per daily barrel, approximately.

According to a recent (Sept 25) CIBC report, oil-weighted companies trade at an average value of $81,400 per daily barrel and $13.11 per 2P boe. Of course, most of these "average" companies are much larger than PPR, so  apply a micro-cap discount that comforts you. Enerplus is worth $6.67 per boe, Raging River $32.13 and Tamarack Valley $8.92.
If PPR were to be valued at a 20% discount to TVE, the stock would be at $1.27 per share.

As has been pointed out by Pennydreadful, one shouldn't get excited by Goldman owning a whack becuz they don't "own" it. Rather, some of their customers do. When we see multi-million share blocks of stock change hands, that will signal better times ahead. For all I know, that could be tomorrow morning. In the meantime, I'd suggest you put in an open order at a comfortable price and buy in size. The more orders that pile up at 80 cents, the better the chance that everyone gets filled. (As you probably guessed, 80 is my comfortable price, though I've got a starter position at 88 and 92.)

PS: I wouldn't be in this were it not for Leanne. Blame him (her?) if this turns into Prairie Improvident!!!
Bullboard Posts