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Penn West Petroleum Ltd. Message Board

  • lafittes May 9, 2007 9:15 PM Flag

    6 billion barrels to be developed!!!

    You would have to be crazy to short.... 300,000 acres to be developed with 6 billion barrels in place....
    How do you say TAKEOVER? A major Oil Company is going to want all of Penn West with the land and this development...
    Unit Holder or Shareholder: That is why William Andrew is saying hey we have a lot more Oil and we can keep this trust going beyond 2011 with dividends still at the same level.
    You own something with more potential than meets the eye. I have been trying to tell you this, but who do you need to tell you this Warren Buffet, Jim Cramer?
    Your CEO is telling you this himself... This stock is going higher because the underlying value of having 6 billion barrels in place is not priced in at current levels.
    For Instance, try 8 times the reserves already present and than you do the math. That is how much you looking at.
    If that is the case, over $100.00 dollars per share easily. Because Book Value and asset value would automactically double. Penn West has the Oil and Natural Gas. They drill very successfully and producing 128,000 per day. Look what they are developing. These shares are undervalued by every measure you can think of if they develop something with 6 billion barrels on 300,000 acres of land. On that news alone and the potential of that should be a premium of $12.00 dollars added on to the current stock price. These market makers do not understand potential to much. However, anytime you have Oil like that in place, than they have to consider some upward revision of future reserves going forward. Penn West is on the right track.... Stay aboard and reep the rewards....

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