wow, sit back and relax and enjoy the ride., page-77

Thanks Scruffy. The NPV of future cashflows would seem to be >> than the current SP - especially given future drilling in AD. And then there's the PB of course. I guess I'm just struggling to comprehend why this stock (and others) are so consistently undervalued by the market. I understand there is inherent risk in oil+gas, but even with heavy de-risking it just doesn't add up.

I suppose as more holes are poked in the ground and black juice starts to flow into financial reports, this gap between SP valuation and market SP will start to diminish. Until then!