AJQ
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0.00% 10.0¢ armour energy limited

valuation

  1. Ownanisland01
    46 Posts.
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    02/10/12
    14:41
    Post #: 10800995
    Armour Energy

    Applying the CTP/STO transaction multiple to Armour Energy's acreage, On my numbers and future reserve estimations I derive a value of $337m given AJQ's acreage position (of ~31m acres) which is equivalent to $1.12 per share.

    While I am not necessarily suggesting all the acreage will be productive, or prospective to a JV partner, the implied valuation suggests considerable upside from current levels.

    AJQ Price at posting: 25.0¢ Sentiment: Buy Disclosure: Held
    Likes Created with Sketch. 23  Upvote
    lightbulb Created with Sketch.  Great analysis
    Stroke 3 Created with Sketch. Comments Created with Sketch. Reply

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