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Abraxas Petroleum Corp. Message Board

md841 1 post  |  Last Activity: Sep 12, 2014 10:39 AM Member since: Mar 27, 1999
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  • md841 md841 Sep 12, 2014 10:39 AM Flag

    i assume the $47 target came from putting a PE of 10 on RC income. Company projects it will make $125 million/year through 2021 from RC. Company is sitting on a pile of tax credits and loss carry forwards, so it won't pay taxes for a few years. Put a PE on the RC income and its easy to get to a $50 share price (IMHO).

    While the roll out of RC has been slow, they have 1/2 of the plants running and 1/3 sold. While the timing continues to slip, it seems likely all the plants will be running and sold by next spring (then sit back watch the cash build up). Seems like a pretty simple business to me.

AXAS
5.19-0.07(-1.33%)Sep 15 4:00 PMEDT

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