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Penn West Petroleum Ltd. Message Board

  • spinergy888 spinergy888 Mar 1, 2013 7:40 AM Flag

    PWE/PGH Grossly Undervalued Based on Assets Held

    These companies SCREAM takeover at these prices!! Why would oil majors spend huge resources to find and obtain oil when they could just buy these companies?

    7:30PM Pengrowth Energy announces 55% increase in 2012 year-end proved plus probably reserves and replacement of 672% of production (PGH) 4.13 -0.04 : Co announced 2012 year-end reserve additions. Highlights:
    Proved plus probable (2P) reserves increased by 55 percent to 512.0 million barrels of oil equivalent (MMboe) at December 31, 2012 from 330.5 MMboe at year-end 2011.
    Pengrowth replaced 672 percent of 2012 production, adding 213.2 MMboe of 2P reserves in 2012 at an all-in annual Finding, Development and Acquisition (FD&A) cost of $18.16 per boe including changes in Future Development Capital (FDC) for 2P reserves. The 2012 FD&A costs, excluding changes to FDC were $9.92 per boe for 2P reserves.
    All-in Finding and Development (F&D) costs were $16.85 per boe for 2P reserves including changes in FDC.
    Pengrowth's three year average all-in FD&A and F&D costs for 2P reserves were $18.45 per boe and $17.36 per boe, respectively, including FDC ($11.38 per boe and $8.19 per boe, respectively, excluding FDC).
    2012 crude oil and natural gas liquids (NGL) reserves increased by 29 percent and 79 percent on a proved (1P) and 2P basis, respectively. This significant increase in liquids reserves is a direct result of reserves acquired through the acquisition of NAL Energy Corporation (NAL) as well as focusing capital on oil and liquids-rich projects, particularly the Lindbergh thermal project.
    At Lindbergh, reserves were increased significantly with 89 MMbbl of reserve additions due to delineation drilling and positive pilot results. At year-end 2012, 2P reserves stood at 95 MMbbl while 1P reserves were 13 MMbbl. The best estimate incremental contingent resources were 218 MMbbl.
    2P reserve life index (RLI) increased to 14.7 years at year-end 2012, a 23 percent increase from the year-end 2011 figure of 12.0 y

    Sentiment: Strong Buy

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    • Because not everyone in your little universe values those assets the same way that PWE does. Some actually look at them realistically. "Grossly undervalued"????? By whose estimation? Please show me a reliable third party asset evaluation that supports your opinion

      Sentiment: Sell

 
PWE
0.7145-0.0705(-8.98%)Feb 9 4:02 PMEST