MC/EV per Schwab US 11-8-14 - 12-3-14 | BPZ Message Board Posts

BPZ Resources, Inc.

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Msg  10228 of 10232  at  12/3/2014 4:46:48 PM  by

bullhonky


 In response to msg 10223 by  bullhonky
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Re: MC/EV per Schwab US 11-8-14 - 12-3-14

 Timely, huh!?? Wunder/Wonder/Wander lick didn't see this last month? or the month before. How about when it was @$3 +  did they advise selling then?? when it was ABOVE their NAV?? UFB. I still don't know what to make of BPZ - The Z1 drilling with PacRub hasn't justified the expenditures, imo. Not sure how many millions they've burned with PacRub, but the mediocre production results have to indicate something to these guys. Granted, I've no idea how much these 8k ft offshore wells cost and I guess they have sunk costs in the facilities. It's like that $75 mil at the end of 3Q is essentially "spent"/squandered/used in a manner that does not create value. Puzzling.
 
BPZ Energy downgraded to Sell from Buy at Wunderlich
8:53 AM ET, 12/03/2014 - Briefing.com. Wunderlich downgrades BPZ to Sell from Buy with a $3 NAV. The firm says. there is no way that they can reasonably forecast how this search for strategic alternatives will unfold. In a best case scenario, the company could find a buyer and pay back its indebtedness. But it is impossible to get a handle on how long this process could take. Firm says their NAV remains at $3, and represents their view of the company's break up value. They used crude price assumption of $92/bbl for Brent, which looks too high now in light of OPEC's decision not to cut its production quota last week. A sensitivity analysis using $77/ bbl for Brent yields a NAV of $2 per share.
 
Shares
Market Capitalization (Micro Cap)$41.5M
Enterprise Value$174.7M
Shares Outstanding118.7M
Shares Held By Institutions50%
Short Interest (as of 11/15/2014)17.5%


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