RE:RE:Whitecap Imperial DealTheRexmember wrote: That was a pretty big, premium land package with lots of land in one of the hottest plays, but I still think 22.50 is low for BNE. An oilier part of the Cardium with lower decline rates makes our production way more profitable than average. Compare us to Yangarra which should has a similar exit production forecast and BNE should freecash flow about 100 million more this year, spend roughly 40 million less and still have a lower decline rate.
Agreed on all fronts. I was just using the same metrics as an example of the disconnect even at 60k / flowing boe. BNE also has more booked locations than this deal did. Severely undervalued and not on anyone's radar at all No banks and not with Nuttall.
I've already spoke to the fundamentals here but the bottom line still ends up being lack of ROC or a plan to do so. There will be no love until then because everyone else is paying up so why buy BNE (unless a person is willing to be patient for the re-rate).