Interesting thoughts from a lurker:
I have been following this thread for about a week, and haven't seen much in the way of true price estimates.ÿ So if you don't mind, I thought I'd send you my 2 pennies worth. I'm not on this SI thread to be able to post, yet, so I hope you don't mind me sending this to you.
I've noticed several people tossing the $2.85 per share ($200m in gas, etc. /70m shares) as a potential earnings per share. What this really gives us is not an earnings per share, but more of an idea of the Book value per share. If we assume that the $2.85 per share for the gas and other resources is actually does represent 40% of the minerals in place, then the asset value per share is raised to $7.125 per share, minimum. I haven't found any industry averages, yet, but taking ratios from another small gas company,(Royale Energy - Nasdaq ROYL) do you think we could be looking at something like this?
Assuming Royale's price to book ratio of 2.88 : Stock Price between $8.21 (2.88 * $2.85) and $ 20.51ÿ(2.88 * $7.12) per share?
Just a thought, what do you think?
Have a great day....
Jay Edwards
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