I found this on the Yahoo thread for icvi. I offer the following comments:
(<< >>) Are the comments of the Yahoo poster!!
<<ICVI valuation: 31 cents a share (for Mountain Energy)
Jun 2 1998
10:50PM EDTFirst they own mineral rights, not producing properties, giving them the
benefit of the doubt
2 billion cubic ft of gas is about 2 million million BTU x
$ 1/million BTU (liberal for gas in ground esp. coal gas)
= $2 million>>
Reserve est: 2bcf = $10,000,000.00 Tax credits not accounted for. Possibly as high as $5.00 per mcf
<<10 million tons of coal x $2/ton (again liberal for coal in ground, e.g PZM has profit
margins of $2/ton) = $20 million>>
Margins are at $10/ton minimum. = $100,000,000.00 Minimum
total = $22 million
Could be as high as $15 - $20/ton = $150,000,000.00 - $200,000,000.00
<<All of my estimates are low. Reserves are being evaluated as we speak and will be forthcoming by end of month.
$22 million/70 million shares = 31 cents for Mountain Energy part of company>>
$160,000,000.00 - $210,000,000.00/70 million shares = $2.30 - $3.00 a share
<< Not short, nor long - really trying to do people on this thread a favor by giving them
information. If you doubt my assumptions go through the 10Ks of energy companies to
determine how they value reserves - you will find I'm giving ICVI the benefit of the
doubt
I have read it! Reply >>
Regards,
Bob |
