Waverider110
I did not use those numbers. I used what I could verify quickly and to be honest, I did not read his post. I am not invested in BDGR. I will say this and just know that, I do not know if BDGR has other streams of revenue, but if they project 14mil in revenues and they have 300 wells producing. 14mil / $55 per barrel (conservative number) = 254,545 barrels must be produced at that price. 254,545 / 300 = 848 average barrels per year, per well. 848 / 52 = 16 average barrels per week, per well. 16 / 7 = 2.28 average barrels per day, per well must be produced from those 300 wells to meet the raw number if that information is accurate. Definetly doable adn realistic.
The change in O/S and float are reflected in the edits below. Still IMHO not comparable to PBLS. Again, they could dilute and devistate investors rather easily unannounced and release a PR saying "SUPRISE!" hehe. As I understand it right now, unless PBLS changes "charter rules?" There would have to be a shareholders vote to increase the O/S further and again if revenues given to us are accurate, double the current O/S is still 1/4th of what we are trading at now based on raw revenues. We do still have to consider profit margins, assets and debt ratio, but we can't until we get information from the company, preferably via Edgar. I am just gussing that having all the audited info is the same story with BDGR. Let me make it clear that I do believe there is risk in PBLS, but IMHO far less of a risk than BDGR.
*EDITED post below*
"FYI though Wave. The A/S for BDGR is 250,000,000 with about 2,400,000 in float. Thats after a 500 to 1 RS, ouch.
Using just the last known float. 14mil / 2.4mil = 5.83
It is trading at roughly 1/4th that.
**Using new info 14mil / 7.6mil = 1.84
**It is trading at .30 cents under that
For fun, lets use the entire A/S. 14mil / 250mil = .056
It is trading roughly 28 times that.
For PBLS, lets do the same and use speculative float of 400mil. 250mil / 400mil = .625
It is trading at roughly 1/20th that.
Again, lets use the entire A/S. 250mil / 997mil = .2507
It is tradign roughly 1/8th that.
As for a valid comparison, I would say no. If BDGR kept the float as is, which has to be scary speculation by investors there, it is at least within the range based on revenues alone, with no growth or asset valuation. If BDGR dilutes all to hello and back, it would be devistating to investors there.
Based on revenues only and again with no growth or asset valuation, PBLS is not trading within the range and as such appears to be grossly undervalued any way you look at it. Even if the close to two billion A/S had been intentional and used as the entire float, we are still trading at roughly 1/4th of that!!!"
Regards,
Fizzlegig
