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Gold/Mining/Energy : Scimitar Hydrocarbons, SIY:ASE
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To: Grislee bear who wrote (616)12/2/1999 2:15:00 AM
From: j.oil  Read Replies (2) of 864
 
Hi Griss.
Getting closer to that promised land all the time.
Getting closer all the time especially with the help of Jaws and now maybe a little push from SIY.

Here is a very good post from RB.

Recently, I had a conversation with a friend that is stockbroker, I asked him how to put a value on SIY. He said, the simplest way to value a Junior Oil & Gas company, was to do a cash flow evaluation.

This is what he came up with:
Siy is based off of a $6.00 discount to Brent pricing.
If you use a price for Brent of $26.00us - $6.00us = $20.00us
We know that SIY retains 75%.
$20.00us X .75% = $15.00us
$15.00us X 1.48 = $22.00cdn
$22.00cdn X 700 bopd (current production) = $5.6 Million divided by 38 Million shares = $.15/sh cash flow
Using a multiple of 6 X $.15 = $.90/sh

In light of the recent drilling activity, it appears that the stock is starting to get noticed. If SIY can get 350 bopd/well, we could double production with the first two wells, and the valuation would then go to $1.80. Please note, these numbers will change as the price of oil changes, this evaluation is not 100%, but it does show how undervalued this company actually is.

One more point that my friend mentioned, as SIY proves they can produce oil from Issaran, they will start to get credit for the 545 million barrels of oil in place. Something he says has not happened to date.

Cannibal
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