I supect other oil and gas companys will be running the ruler over MAD in the near future if they have not done so now. The following is a good example as to why...
One of the transactions I used for comparison purposes when looking at investing in MAD was the Empire acquisition of Kansas producing assets 13 months ago by EEG when oil prices were a bit lower than they are today.
Imperials (EEG, Empire) Executive Chairman, Mr Bruce Mcleod, said: "Empire Energy has been fortunate to acquire these oil producing assets at a very attractive 1P reserve multiple of just over $15.50/boe. Oil producing assets in the USA are selling for up to $25/bbl for 1P reserves"
EEG spent $60.25mil to acquired 4.8mmboe 2p - $12.20boe. for a 2p pv10 valuation = $120mil. With production of 550boepd (mostly oil) at an average of 2bopd per well. 1p=3.75mmboe
An investment in MAD......No brainer!!!
Cheers
why other companys should take a stake in mad
-
- There are more pages in this discussion • 3 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)