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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Craig C who wrote (7104)2/6/2000 10:33:00 AM
From: HAZ  Read Replies (2) of 24925
 
Altaquest Energy

Update.

The company ran a press release last week informing the market that they are up for sale, either as a whole company or property sales.

The stock went up from 0.30 range to .45-.50 range but is still significantly below net asset value.

I called the financial advisors and asked them what is the book value. They informed me that they are expecting the updated evaluation in the next 2 weeks.

Once they receive it they are putting a package together and posting the information on their web-site for all to view.

This should start the auction process and we should see some movement in the stock.

I thought about what AQF management is doing here and it came to me that this is exactly what we have been talking about. Most O&G companies are not valued according to cashflow and reserves etc. but at the same time property and reserve sales are getting good prices in private sales.

So sell off assets for good prices, get your stock price up since the cash has to be valued in your stock price, and buy out other O&G companies that are trading at very low prices with good assets.

Or buy undeveloped land and drill a few wells and then sell the reserves for cash.

Isn't this a way of closing the valuation difference?

It's like buying wholesale and selling retail.

Lot's of good companies trading cheap right now but the smart ones will get their stock prices up.

Good Luck

P.s. Still buying Petrobank at 1.40 anybody want to sell me some.

Cheers
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