I’m still in fundamental agreement with what I wrote in my previous post (sticky post #2487). I had thought by now we would have been given some indication of how things are going. Although I understand that they don’t want to be making changes and thus become a moving target in the eyes of the Alberta Stock Exchange CTO removal.
As for additional reasons to be optimistic about Fortem Resources, here are a couple more points:
8. The price of crude oil has recently been rebounding to the $60 range, with some projecting that we could see $80 or even $100 per barrel.
That being the case, privately held oil and gas properties will be increasing valuable and sought.
9. As I have looked over the fillings, the essence of the accounting disagreement is how the acquired properties be valued and carried on the books of the company.
1) At the value represented by both the issued stock and the cash portion.
OR
2) At the value of just the cash portion paid for the properties (and thus not the value of the tens of millions of shares issued to acquire the properties).
It seems almost ridiculous to me to think that anyone world sell with their properties for less than a value that would fairly represent the properties value. The underlying value of the shares have to be taken into account when valuing the purchase price, as well as the book value those properties continue to have as asset value on the books of the company.
With other investors I’m looking forward to the company putting this behind them. Will it be weeks or months? Who knows. Time will tell.
Watch for opportunities with those you trust.
