"Simon has 15-years plus experience in researching companies (independent research providers, plus various broking houses). He is a Geologist by training, and worked in the field for 7-years. Simon has a Masters Degree in Finance, and understands the various techniques for the valuation of oil & gas production, development and exploration properties. He has also researched listed infrastructure companies, coal assets and various "interesting" small industrial companies. Simon is passionate about markets, and characterises himself as a deep-value investor."
He is a deep value investor (I guess so - if not zero then the only way from 0.001 is up).
He understands the techniques of valuation.
How else do you come up with 28 beautifully presented pages.
Nice gloss over the key point of PB acres now REDUCED to 5.092 acres. And that the EFS was a development project? (kinda of hard to do if that was the 1st well in the project - most would call it "exploration")
'Nuff said on the top 3 "Investment Highlights"
"Investment Proposition - maximizing production from developed assets..." - Einstein observation but I believe this has been screamed out loud for over a year and yet ...
Corporate Value of $35M - maybe but that cps value keeps dropping from his 1.0 cps - fully diluted 5B on issue plus plus plus .... so I get 0.007 and falling. In fact falling so fast that by the time I got to page 4 it was $0.008
Didn't much pay any further attention to the models and NAV and decline curve and .... been there, done that, works only if you are drilling, continuously putting wells into production and thus HBP your leases and developing your PUD into PDNP and PDP Reserves.
Don't forget the bio bit about ..."Simon is passionate about markets".
GGP Price at posting:
5.0¢ Sentiment: None Disclosure: Held
