RE:Expectationsoilman1111 wrote: I would be careful with all these price targets. It is pretty much baseless to make at this point any share price predictions.
Just let it develop and see what the outcome will be.
Agreed.
At present, we're at 74 cents and we'll see how it develops.
There were quite a number of reasons why I posted the $10 post, not all of them very sensible.
However, with $100 MM FCF and multiple of 15, value of the company could be $1.5 billion.
At ~260MM shares, would be $ 5.75
PIPE has a history of under promising and over delivering. Isn't that what Righand keeps on telling us?
Looking at the Montney from west to east, they produce only gas to mainly light oil (eastern part of BBI lands).
Between gas area and oil area lies the area with increasing NGL's and condensate. One would expect the BBI lands to have more condensate than (former) PIPE lands. This would mean better returns.
Riverstone got their loans repaid earlier this year when the banks took them (the loans) over. Part of that money is now returned as the convertibles that eventually will give Riverstone++ (the robber barons) 75% of ownership in the company (explained before).
Early 2019, I wrote that I was afraid of something like this happening.
As the company now is well funded for the next three years (page 6, August presentation), we may hope that they are satisfied with these 75% (+ what they will yet buy in the market).
For the moment, the 60K that I bought after the drop at average 53 cents, are doing fine.
(still would need SP at $3.21 for break even though).
BTW, have you seen that Hamerhead, neighbor of PIPE, is a Riverstone company as well?
The $10 post was meant to wake current holders up, just don't sell your shares cheap, 10 times current SP is well possible.
Just to keep all of you smiling: None of us may be alive at that time (2023-2024), how's that for a baseless disclosure?
Stay safe and
have fun.