TMY Valuation Metrics
TMY has December 31, 2007 net proved reserves of 58,571,296 barrels of oil, with 117 million shares out, trading at $0.57 at the close today. A market cap of $67 million. Proven oil for $1.14/bbl with each share representing .50 barrels.
I found another small public company doing similar business in the very same regions, that has a total of 38 mboe, all in the same region. This company has 174 mil shs outstanding, and is trading now at $2.71 /sh., in a 52 wk range of $2 to $3. And, that is with a stock that is not even trading on a major exchange. A market cap of $471 million. Proven oil for $12.39/bbl with each share representing .21 barrels.
Either buy .5 barrels for $1.14 or .21 barrels for $12.39 ?
I don't know... some pretty tough math, huh ?
