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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Bobby Yellin who wrote ()11/19/1999 4:00:00 PM
From: oilmaster   of 24923
 
Belair undervalued??

Am I missing something??

Teir one was bought by Northrock for about $32,000 per bbl./day
Progress Energy just bought 275 bbl/day for 4.6 million
which works out to $17,000 bbl/day.

Belair has currently 1200 bbl/day, 6,000,000 shares and 4.5 million debt.
1200 x $17,000 = $20,400,000 - 4.5 debt = $15,900,000
$15,900,000/6 million shares = $2.65/share

If you use Teir One's numbers it works out to $5.65/share

Any Ideas

Oilmaster
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