Bridge Resources Corp V.BUK

3 for 3

[SCORPION17]

When will investors realize that this play will be huge for the company. Do you think they are waiting until after the flow test to jump on board? PXM traded at .37 today.

[raybay_98]

Maybe the 'street' is not that impressed with BUK management. What has this management done for the shareholders? Looking at stock charts, not much and looking at their debt load, these guys should be 'canned'.JMHO

[SCORPION17]

To be fair BUK's huge debt came from the success of drilling Durango. Unfortunately demand and prices tanked shortly thereafter. The imminent sale of the Durango asset should retire the debt. Successful flow tests soon should bring back some investors.IMO 

[raybay_98]

PXM is trading at .375 and their only real asset is Idaho. BUK  cann't get above .350 and that my friend is what the market thinks about BUK. Their north sea assets are worth, what zero. If there was any value in the north sea assets the market would definitely be reflecting it. The shareholders of PXM have done extremely well. The shareholders of BUK got the royal shaft. Look at the

[massEntropy]

Yes but BUK has $8M more in market cap. You can't compare companies by share price, that is just silly! 

[TheJesus]

Durango's only pumped 4 bcf their reserves are still 23 bcf thats worth 160 million dollars.If they get 50 cents on the dollar thats 80 mil.That doesnt include the other assets they're selling or the central north sea assets they are holding onto.So I guess ya their north sea assets are worth,what zero.By the way, not understanding what they were getting into with the backout situation was

[raybay_98]

The 'backout situation' is going to be a real real problem. Even at .50 on the dollar, what buyers are you going to find when you factor in the 'backout situation' and that is why all of the north sea gas assets are for sale. Durango by itself would never sell since the 'backout situation' gives very limited near term revenues  and the backout future revenues are

[TheJesus]

Youll get a buyer who wants 7.5 million cubic feet per day that's flowing now.Logically this would be one of the other companies on the platform,everyones gas is flowing into the same pipe man.

[raybay_98]

Time will tell. Playing PXM and BUK, like Byron, may be the wisest move.

[TheJesus]

Anyone already on the platform would just be adding to their own production without having to do more than write a check.I'd say they get closer to 80 cents on the dollar.

[raybay_98]

Hope your right. I'd say, they'll be forced to keep the north sea gas assets due to low ball offeres and forced to do a massive equity dilution,  which in the long run may produce more value for the shareholders and that's a big may, especially with the track record BUK management has shown to date. If new management were to come on stream tomorrow, the share price would