Followers | 1610 |
Posts | 118995 |
Boards Moderated | 20 |
Alias Born | 08/20/2006 |
![](https://investorshub.advfn.com/uicon/80237.png?cb=1567435339)
Tuesday, June 19, 2007 11:28:48 PM
feb/07 ``On the basis of the reported assets in inventory, we believe that the Company has the ability to produce upward of 9,000 barrels per month from wells on lease, many of which still need to be put into production. With prices at $60 per barrel, this production level had the potential of producing revenue of $4.5 million per year and operating income of $1.5 million. Earnings per share at this level of revenue, assuming operating expenses are contained at current levels, would be about $0.01 per share. Our price target is based on a price/sales ratio derived from one of our comparable public companies, Arena Resources.
``Arena has a strategy similar to BDGR. Arena acquires only existing oil and gas fields and does rework or in-fill drilling. It looks for higher-producing wells rather than stripper wells. At current share prices, Arena is selling for 11 times revenue. Assuming that BDGR can show demonstrable progress in putting wells into production, this Company may well achieve that revenue multiple. At 11 times revenue of $4.5 million, the resulting share price would be $0.70 with the 68.3 million shares outstanding
Christian Prayer Room #board-9826
VAYK Exited Caribbean Investments for $320,000 Profit • VAYK • Jun 27, 2024 9:00 AM
North Bay Resources Announces Successful Flotation Cell Test at Bishop Gold Mill, Inyo County, California • NBRI • Jun 27, 2024 9:00 AM
Branded Legacy, Inc. and Hemp Emu Announce Strategic Partnership to Enhance CBD Product Manufacturing • BLEG • Jun 27, 2024 8:30 AM
POET Wins "Best Optical AI Solution" in 2024 AI Breakthrough Awards Program • POET • Jun 26, 2024 10:09 AM
HealthLynked Promotes Bill Crupi to Chief Operating Officer • HLYK • Jun 26, 2024 8:00 AM
Bantec's Howco Short Term Department of Defense Contract Wins Will Exceed $1,100,000 for the current Quarter • BANT • Jun 25, 2024 10:00 AM