RE:Lowest Price to Book value @ 0,33 W/O MNTN & CL Too bad I bought as much as I did so soon. Looks like a stellar buy here.
Funny that they are getting so little credit for growth so far with zero dilution. My TNZ while also ridiculously cheap at least has a pop with every deal announced.
most of the bigger operators have been in the dilution penalty box even when they made great transactions.
Nice to hear they picked up another 3 Montney sections. That should put them at 50 now. No doubt acquired cheaply. Mgmt patience with assembling assets has been stellar. Hear is an awesome factoid: assuming the first Montney well produces 200 barrels of Liquids in 2024, the well will more than pay for the initial 45 section purchase.
Also interesting that even though CL wells are much cheaper per flowing barrel, the Mntn recycle rate is higher at 3.3x.