RE: What is the value of ADB?The price of ADB is determned by many factors, but I think these are important:
1) The natural gas price (high now);
2) new resources;
3) current drilling results;
4) production.
I think it is important for ADB to continue getting new CBM properties, and keep on drilling.
The numbers are their website are too conservative in terms of gas price, but probably reasonable about production and drilling. Since the price of natural gas is much higher now, I think the market should give a premium multiple because of the potential growth opportunity and this winter the natural gas price will go higher from the current high level.
If ADB announced getting new properties or convert resources into resesrve, the price should jump.