Ken, you're correct about valuation based on cash flow...but, there's not enough cash flowing with low gas prices to sustain operational expenses, replace and increase reserves, and service debt for a long period of time in my opinion...Henry Hub prices on the Nymex, yesterday, Thursday, 12/24/98, from Jan 99 through May, were $1.91 to $1.89... quotewatch.com ...not enough to keep this one afloat all alone for a long period of time...another opinion...and perhaps, not such an astute one at that, either.
What did Contour pay? A dollar?
What do you think they'll get for the Company? Me, I have no idea.
25c and I may buy more...and, it may have bottomed last week with me missing the train as it pulled out of the station...but, that's just too bad.
Ed |
