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cliffvb

10/05/05 1:00 PM

#24616 RE: researcher59 #24605

researcher, EPEX: While their current market cap is higher than PV10 reserves by 60%, the value of those reserves is based on a $6.18 natural gas price. Compared to most other OG stocks it is relatively cheap.
Compare it to a couple of board favorites here:

FPP has a PV10 of $15 mil (adjusted for before taxes), vs a market cap of $68 mil.

BSIC has a PV10 (again adjusted before taxes) of $19 mil vs a market cap of $52 mil.

Also I don't see EPEX getting hit too hard by hurricane damage. Most (77%) are in South Texas, well out of the hard hit areas. But I would like to see a PR from the company about any damage.