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Cequence Energy Ltd Common CEQXF



GREY:CEQXF - Post by User

Post by exprohibition18on Sep 14, 2018 12:16pm
55 Views
Post# 28621108

marquee take out value vs Cequence comparison

marquee take out value vs Cequence comparisonTo me the Marquee transaction shows yet again that  our valuation remains substantially "out of sync" with market metrics-particularly when including our very low decomm liability relative to others.

PPR just paid about 110MM, from  15MM equity, 40MM debt, 56MM decomm)
=about 39K/flowing ish on  2700boe/day , half oil , half ng

Their oil fetched about $55 per boe in q2. CQE oil fetched about $68- so must be lighter,etc.
CQE ,with a mere 29MM in decomms looks again- suprise-suprise significantly undervalued to me on overall EV (inclusive of decom) :

24MM mkt value of todays fully diluted equity+29MM decomm (recent financials) + 60MM in debt = 114MM total EV for 7K boe/day+ infrasstrtcure
+/- 16K/flowing all-in 

How long does this last i wonder? 
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