RE:RE:RE:I'm in!It is grossly undervalued.
I recall that there is a $2 target on Valeura ....market cap of $180 m.
Recall also that at 3300 bopd @$100 oil, Valeura will cash flow $36 million US which is about $45 million in CAD.
So we are trading at just 4 times annual cash flows.
These cash flows are backed by substantial tax loss pools which mean no income tax is paid.
That is cash flows are very close to free cash flows which, as we have no debt, is a proxy for the highest quality of net earnings
So, very under valued relative to peer multiples.
Things are moving along nicely for the Wassana oil field.
Keppel controls all of KrisEnergy assets, as its largest debt holder.
Two producing assets may be still held by Keppel.
Both with tax loss pools..