no comments on the latest earnings report? capex well below cash flow, trading at 3X EBITA with an NPV more than 30% over the current enterprise value...
what am i missing? i understand no one wants to be in the GOM right now and EPL has an unfortunate run in with BR in its immediate past, but valuations like this are absurd, esp when you consider the premium EPL gets for its oil for LLS assets.
i'm assuming we can expect a few more bolt-on acquisitions in 2012 with the low debt and high free cash flow this company will be spewing out in the immediate future. they turned the last acquisition into 2x the NPV they paid for through low risk developments.
comments from other O&G followers would be appreciated. now i understand why Tom Ward over at SD decided to do a 180 and buy a GOM asset if they are all this undervalued.