Value Investing Message Board

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : Value Investing

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next

To: E_K_S who wrote (40869)	12/30/2010 1:23:23 PM
From: Paul Senior	Read Replies (2) of 78664

VQ: AFAIK, they are still producing off-shore. Moratorium maybe for new drilling. I don't know. Betting on Monterey would be for on-shore success (imo). Enterprise value: $1.69B NAV, as best I can tell from company, is $1.67B Company says (p. 27 of recent presentation): "Total Proved Reserves per fully diluted share...= $15.65", which leads me to believe that nav is 1pnav10=$1.67B. 2pnav would then be higher. Company seems to proceed at its own pace in development of Monterey. Maybe they're hanging back a little waiting for OXY to prove out the play. OTOH, VQ have other producing properties, so I guess they have to allocate capital to these too. I'm figuring I'll have to hold the stock (VQ) a couple years to see how things develop. No hurry to buy now, except that oil prices seem to be moving up (VQ with its hedges may or may not be affected), and interest in shale plays seems to be getting stronger (or I'm too involved to see situation clearly). (Aside: I respect Mr. Dingman's opinions, and I try to watch him when he's on Bloomberg TV.)

Report TOU Violation

Share This Post

Public Reply Prvt Reply Mark as Last Read File

Previous 10 Next 10 Previous Next