Member Info for JohnHenry

Magoo try using NET ASSET VALUE or discounted cash flow or 12x divi

Magoo May I suggest you research a couple of well know small to mid cap producer such as GKP and I3E see are they are rated and the back test to ANGS

Push2 I’ve valued ANGUS producing an opportunistic 4,000,000 Therms per month

PE valuations are pointless for ANGUS as it’s not a growth stock.
Uk O&G are poorly rated try 1 x revenue or when paying a divi 10 -12 the dividend payment.

Angus are probably producing an annual revenue around £15-18M how does that justify a Mktcap of £50M +£20 in debt total EV of £70M

Push2 how does the present revenue value Angus at £50M mkt with £20M in Debt ???

Add in the debt and ANGS is fully valued At £70M

Push2 imho the market is also optimistic hence the £50M Mkt Cap

360phil if they complete further sidetracks and increase production of cause there’s upside in valuation.

Imho there’s very little downside here on a successful sidetrack.

Their Thermal plans are years away from generating revenue if they are actually commercially viable.
They can boost production a little around their oil producing assets however growth is pretty limited unless they buy producing assets.

Ocelot im simply putting a sense of realism into the valuation. Push2 valuation is potentially for 12-18 months.
Which is 100% upside.

So do all management but the markets not going to give any valuation to ambition.
At present they are a producing company generating cash flow to pay down debt.
Once debt is paid down then the company can begin to pay a dividend.

For ANGS to command a 3p SP they would need to be paying around 0.25p dividend.

Share prices are valued around 10-12 dividend payments.

I3 energy is operating in Canada and has a MKT cap of £200 M

Angus production will be equivalent to around 2000 bopd now compare that to dividend payers such as i3e 23,000 bopd and GKP 52,000 bopd . I know each have got there own different fundamentals but you can start to see how ANGS is pretty much fully valued around £50M

By comparing the valuations of other producing O&G companies.

3p would give a Mkt cap of £100 M plus debt of around £20M imho wat to high in todays bear market. Just compare that valuation with others in the industry.

Push2 I trying to be realistic in what is a continued savage bear market. Imho the market is more or less pricing in a successful sidetrack and gas flow. £70-£80M mkt cap is fair value on a success case compared with other producing O&G companies.