I don't think at this point CE1 is significantly underpriced... as they do have pretty high CAPEX/OPEX to maintain production levels .. and a history of not meeting targets and selling assets well below costs and base valuation.
I'm thinking more so higher Energy prices will lift all operators and CE1 being a minor Micro cap could catch a bid for those retailers wanting a spec energy exposure ...
22Mmboe 2P reserves give some backbone to valuation and maybe T/O target going forward to a more successive operator in the area
Core Nav based on the company’s 2P reserves only is A$0.28 per share
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I don't think at this point CE1 is significantly underpriced......
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