Not the news today I was hoping for. Was hoping for a Montney sale, but as I've been fearing, I think it was the Blackspur assets that were on the chopping block. I've always liked the Blackspur assets, a simple, low PE, underpriced business with good growth and long-term prospects. I'm glad management aren't letting go of them cheaply, despite the pressure from shareholders for a deal. I do buy the argument around the recent oil price volatility. Current margins are pretty thin, so a $3 change in oil price could impact the NPV by 30%+, and there have been a few such moves in recent weeks.
It is hard to expect an acquirer to pay a large premium above our market cap for either Montney or Blackspur. But the share price reflects a lack of confidence around Calima's ability to sell either asset. Seems a bit circular. Perhaps a joint listing on the TSX would help bridge the valuation gap and get things moving.
- Forums
- ASX - By Stock
- CE1
- Ann: Company Update
Ann: Company Update, page-35
-
-
- There are more pages in this discussion • 178 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Featured News
Add CE1 (ASX) to my watchlist
|
|||||
Last
0.9¢ |
Change
0.000(0.00%) |
Mkt cap ! $5.700M |
Open | High | Low | Value | Volume |
0.0¢ | 0.0¢ | 0.0¢ | $0 | 0 |
Featured News
CE1 (ASX) Chart |
Day chart unavailable
The Watchlist
SER
STRATEGIC ENERGY RESOURCES LIMITED
David DeTata, Managing Director
David DeTata
Managing Director
SPONSORED BY The Market Online