Book value is clearly irrelevant to a company like BOW, in fact I'd say it was clearly irrelevant to every E&P company. If such a question stumped or perplexed our management that does not bother me one iota, simply shows they are not accountants, for which I am thankful.
Reserves and prospects, and cost of discovery, that is what it is about at this stage, and the books can be put through the shredder for now.
EL
BOW Price at posting:
$1.40 Sentiment: LT Buy Disclosure: Held
