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Energy Investing
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Re: Coelacanth Announces Q3 2022 Financial and Operating Results "Almost like crypto?" Have you even looked at their website? Did you do the simple math on their modest market cap relative to asset value (450m * $.85 = <$400m)? Do you know how they came to be? And who is a close partner (VET) owning 17%, being in a position with a strong geology and drilling team to be able to analyze their potential and, as a result of that assesssment, are buying additional shares regularly in the open market? Any idea what 1 undeveloped section with no P+P reserves (yet) goes for? And that they have 150 net sections? Do check Crew's news release ($130m sale for 47 undeveloped sections (1/2 dry), Sept.) and the recent Pipestone area $4.2m/section NR for clues. Regards, Naamkat |
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