RE:Great Entry PointI agree the current price is a fair price to pick up more shares
I am not an oil and gas expert, financial analyst or an accountant , but I am excellent at what I call napkin math. The Napkin math for SEUSF PEL 83 is as follows:
High estimates for PEL 83 have been up to $20 billion or $2 for each in ground barrell
SEUSF has 373,520,000 share outstanding.
If 80% of PEL is worth 20 billion then the enitre block is worth 25 billion
Seusf controls 4.9% of PEL 83 therefore its share would be 4.9% of 25 billion
which equals $1,225,000,000 {i assume US dollars but could be Canadian}
divided by the share count comes to $3.2796 a share cash
multiple by a modest PE ratio of 8 equals $26.23 a share
I am well aware that more sophisticated financial analyst will not come up with this number and part of the reason I posted this is to see what someone with an oil and gas financial backgroud would estimate.
The fact remains any price at 73 cents has to be a terrific bargain if the buy in proceeds.
Farrell
My last post got buggared up. My attemps to repair it were unsuccessful. Any help to repair it would be appreciated.