https://seekingalpha.com/article/315095-westfire-energy-puts-itself-in-play-could-fetch-a-100-premium-on-the-current-stock-price?source=yahoo
Based on already booked reserves Westfire has a lot of upside. Throw in the 650 locations which haven’t been booked and each of which is likely worth a couple of million each and the upside starts looking a little silly.
In my opinion there is no way Westfire gets sold for less than the net asset value of its booked reserves of $8.17 per share.When you consider that the vast majority of Westfire’s drilling locations are not included in that net asset figure and a takeover price well above $10 seems likely.
That is pretty much a double from the current share price.
I’m not sure why Westfire is in such a rush to realize full value by shopping the company. I would have thought that this is one company that could increase value per share considerably over the next few years by continuing to improve recoveries of their Viking play.
analysis over 6 mos old, but is this part hype or part true. OIl up $4 today would have thought we would have seen more rection.
Stock was $4.5 then and $4.50 now, would a buyer still pay $10, or is $6 more realistic?
I wonder if they will hold off for now?
The 2Q report should be out soon, next week??