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Gold/Mining/Energy : Canadian Oil & Gas Companies
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To: Cal Gary who wrote (16242)1/17/2011 9:39:31 PM
From: Paul Senior3 Recommendations  Read Replies (1) of 24916
 
Alberta Cardium. "The Players"

My calculation of enterprise value per net section for some companies with Alberta Cardium holdings (sections). Just to get an idea of what the values might be and how they range. I understand some companies have land holdings in additional shales, and that likely will heavily distort numbers I'm showing. Also, the Cardium is pretty widespread, so sections within will of course have different worths -- some will show to have good oil/ngl, some gas, some will prove non-commercial (I assume). That is, I assume it's to be expected that investors will bid up companies (higher enterprise value) based on expectations for the particular sections held, as well as the companies' abilities to fund and extract.

Players and their sections reported here:
beatingtheindex.com

Enterprise value from Yahoo, as of Friday. Where enterprise value was not listed, I used market cap.

In C$Millions per section:

(Ranked by number of sections held)


BNP:  18.2
PEY:  9.5
PBN:  22.4
NGL:  4.7
AET:  63.3
ERF:  53.1
BNE:  9.3
DAY:  18 (on mkt cap)
NAL:  20.9
VRO:  3.3
NVA:  12.8
BXE:  6.4 (on mkt cap)
PMT:  8.7 (on mkt cap)
CR:   25.8
TOL:  2.1
AXL:  4.7
MEL:  6.0
FEL:  22.4
SKW:  2.0
SPE:  6.2
DEE:  19.0
CQE:  22.6
WSX:  26.7
EQU:  25.3
WFE:  27.
TSV:  7.1
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