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Strategies & Market Trends : Value Investing

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To: Paul Senior who wrote (39817)	10/29/2010 1:16:46 AM
From: Spekulatius	Read Replies (1) of 79000

Paul interesting post regarding E&P. I wonder how you deal with the value aspect: I am trying to acquire shares in every small publicly-traded e&p company that has land holdings there. Do you actually look at the value of all those companies, or do you buy them unseen, as long as they are "undiscovered". I am having trouble to value those little critters. Just to name on example - I looked into SYRG.OB - 22M$ in market cap - total assets ~22M$, but only 1M$ equity and ~12M$ in convertible debt. Revenues last quarter were ~1M$, expenses 2.7M$. These numbers don't scream value to me - what do you do? Look at potential land value - where? DPTR is another one of those - didn't they hype this huge gas field in the Columbia River basin that turned out to be a dud after all?

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