GREY:ZARFF - Post by User
Comment by
nkbourbakion Nov 24, 2017 4:05pm
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Post# 27028052
RE:Value at $60 WTI is $1.58
RE:Value at $60 WTI is $1.58sculpin2 wrote: So here is valuation at $60 WTI where the price of oil is climbing close to today according to the Company presentation. Field level cash flow would be $21.4mm which at a 4.5 multiple of this results in a per share valuation of $1.58. So what does the CEO do - he sells 130,000 of these shares at $0.42 - must need a tax loss really badly or we need a new CEO...
This is what I mean. Based on what I read, it makes no sense at all for these guys to be liquidating -- not even waiting for an uptick. And I doubt it's a tax loss.
Much happier to be in the debs here over the common, but even still it spooks me. Never been in this position before and I don't like it!