My simple calcs suggest that EKA is moving into a value area now given its key asset is the same as ADI's. ADI at 16.5 equates approximately to EKA at 8 IMHO. A little hard to calc what ADI will get for remaining Yemen acreage, but I expect it will be a fair bit less than the area just sold. This is the only one of the 3 JV members that still has a heavy sell side.
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My simple calcs suggest that EKA is moving into a value area now...
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