SI
SI
discoversearch

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.
Gold/Mining/Energy : Saxon Petroleum (SXN-TSE)
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  
To: mark calgary who wrote (19)2/22/1998 8:39:00 PM
From: dewinton cowboy  Read Replies (1) of 24
 
Mark, I just reviewed your valuation and have the following comments:
1. Your value per boe of daily production is somewhat high (I consider 15 to 20 thousand per daily boe to be more in the ballpark)
2. The main problem I have, however, is with you adding the book value of the assets to your valuation. Your valuation of the reserves is to be the subtitute for the book value. The only item I would add to the reserve value would be the value of the undeveloped land and non producing resverves which could be 20 million dollars. This results in a significantly lower overall valuation.
3. A major problem with Saxon is its management. The CEO was involved in a private company in the 80's which went bankrupt (Northern Badger) and a lot of people won't get involved with him. If Forest had not invested in 1995, Saxon would have gone the same way. Glen has a history of over optimistic forecasts and overspending.
4.Based on the current results, the company is trading at fair value
Report TOU ViolationShare This Post
 Public ReplyPrvt ReplyMark as Last ReadFilePrevious 10Next 10PreviousNext  

HomeMailHotSubjectMarksPeopleMarksKeepersSettings
Terms Of UseContact UsCopyright/IP PolicyPrivacy PolicyAbout UsFAQAdvertise on SI
© 2025 Knight Sac Media.  Data provided by Twelve Data, Alpha Vantage, and CityFALCON News