Re: Penn Virginia Corp. (PVA) - Undervalued by 44% to perhaps as much as 200%.
You should also look at PVA if you like Eagle Ford shale. I want to buy more shares below $13.00/share especially after their recent presentation. PVA stock appears to be quite undervalued according to their presentation on 7/18/2011. Stock selling close to it's 2 year low closing at $13.71.
Note their focus on Oil vs NG over the last 24 months. Their most recent Eagle Ford well was very successful – First well IP’d at 1,250 BOE/d. (see presentation Pg -11- & -12- ).
– ~14,000 net acres in Gonzales Co., TX
– 9 wells currently producing approximately 5,000 BOEPD (gross), including NGLs
– First well IP’d at 1,250 BOE/d
– Next five wells IP’d at 582-1,876 BOE/d
– 997 BOE/d average IP rate
• 2011 Activity
– 3 rigs drilling; up to 29 (24.3 net) wells
– Up to $187MM of CAPEX (52% of total)
– 11% of 2011E production (20% of 4Q11E
Here is the link of their most recent presentation July 18, 2011 at the GHS conference. Pg -19- is the most important one. It shows a NAV per share stock value range: NAV per Share $19.46 $29.26 $42.18
phx.corporate-ir.net
You can access the audio here where he discusses each chart in the presentation above. (Note: You must provide you name & email on the registration page)
wsw.com
Penn Virginia Corporation Presentation is Monday July 18, 2011 at 11:00AM
(This is a direct link that may or may not work: wsw.com )
There are many other presentations there too. ABAX, MHR, RAM
EKS |
