Oh, oh.... Sundance mentioned by clueless author in Seeking Alpha article
Seems as though the author forgot to mention that Sundance has sufficient CAPEX with which to follow through on its drilling program....Oops... Don't know where these people come from? Sundance is not overvalued by any means....sheesh..
the biggest mistake he made was to use TODAYS MARKET CAP against the reserves report that did not include EFS ACREAGE RESERVES ........ if your not counting EFS reserves then you cant use todays share price to get a valuation ............because the share price is up on the Total acreage ...... if the loser was going to use reserves without using EFS then he should have went back pre-merger announcement and use that market cap ..............this guy needs to issue a correction of valuation .
NUKE , I wrote our friend Josh the SA blogger this is a copy ...... Hope I'm correct in what I said . hahaha "Josh , I was reading your latest post about Aussie oilers and noticed that you created a valuation for SDCJF Sundance that was incorrect ..... you took todays market cap of $433 million dollars and you used a new reserves upgrade report that DOES NOT include ANY reserves from the recent EFS acquisition from TXN to get your valuation .the share price /market cap of SDCJF has been driven up over $1.12 based on the combined acreage including the EFS ..... if you use the reserves report excluding the EFS then you would need to go back to pre-merger announcement to get the market cap that would apply to reserves report listed .. as a shareholder of SDCJF I think you should look into this and if I'm correct then a correction from you should be forthcoming immediately ... as you know seeking alpha has many followers and they have the right to expect correct information from it's bloggers . thanks for looking into this matter ..