01-14-2014, 12:40 AM
While this report appears flawed, I have a different takeaway. Pricing in very conservative variables and not yet giving credit to soon to be drilled wells, Calio still comes up with over a $100 NAV and $85 price target. Yet, we are trading just over $50. It reinforces the absurdity of our current pps and the disconnect that exists.
Positive drilling results in exploration wells and delineation wells with increase the NAV and reduce the discount between NAV and the price target.
Positive drilling results in exploration wells and delineation wells with increase the NAV and reduce the discount between NAV and the price target.