RE:This is a rather unique situation Nothing particularly unique to surge. plenty of small cap e&ps are still crazy cheap, even after multibagger returns over the last year.
Using Nutall's favored 4x CF/EV for 2022, SGY is definitely worth a buck assuming $65 WTI
Cash flow @65WTI is estimated at $210,000,000
4 x 210,000,000 =$840,000,000
$840M-210M (2022 net debt) = $630M
$630M/608M shares outstanding = $1.04/share
If you think the discount that SGY is trading at is crazy, OBE is even more nuts
Cash flow at $65 WTI in 2022 is expected to be $254M
$254M x 4 = $1,016,000,000
$1,016,000,000 - $303,000,000 (2022 net debt) = $713,000,000
$713M/74.9M shares oustanding = $9.52/share
OBE is currently trading at $4.38/share
soundandfury wrote: Here we are a 20,200 bpd oil company.......crude is 73.00......next year our fcf is projected to be somewhere between 85 million and 120 million dollars......we now have 5 cash generateing areas.......3 or 4 core areas.......an experienced management team......a good cfo.......and yet our stock can't get to 1.00.........shakes my head and wonders what went wrong? What do you think they talk about at the sgy board meetings after the cfo gives his presentation? Hmmmm