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Forest Oil Corporation Message Board

  • boiler_room_bermuda boiler_room_bermuda Apr 3, 2013 1:56 PM Flag

    book value and net tangible assets are negative numbers

    Is there any intelligents life on this board that supports the stock with compelling rationale ?
    I ask ya ?!

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    • Intelligent but not wise in hindsight with regard to this investment.

      Here's some rough numbers I quickly gathered.

      Revenue: "Forest expects 2013 net sales volumes to average 220 to 230 MMcfe/d, excluding average net sales volumes associated with the South Texas property divestiture that closed on February 15, 2013, and is estimated to be comprised of approximately 60% natural gas and 40% liquids (20% oil and 20% natural gas liquids)" Translation to dollars?

      Total Capital Budget of $355 Million to $375 Million

      Estimated proven reserves as of Dec 12: 1,363 Bcfe

      Net debt: $1,863,956,000

      Bottom line: Perceived positive earnings with increasing weighting towards liquids. Very high debt levels but perceived solid access to capital markets.

      Honestly, I'm not keen on a negative book value (seemed to appear after latest quarter reports).

      Sentiment: Hold

 
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