TOO and PLX: Two Junior Producers with Same Production MixCongrats to the TOO longs. The key metrics are noteworthy.
TOO was acquired for C$60,000 per boepd and C$8.5 per 2P reserves.
TOO's production was about 750 boepd with a balanced commodity mix same like PLX's production mix.
The suitor paid C$40 million for TOO.
Point Loma Resources (PLX) is a new and unknown producer in Alberta that was incorporated last July.
PLX produces 800+ boepd and its Enterprise Value is only about C$10 million.
This is a tremendous valuation gap that will close sooner rather than later.