Hypothetically, if HOG was earning $2 million a year then it 'should' be worth somewhere around $31 million, or .10 cents a share, using a sector average P/E of 15.76 (http://www.reuters.com/finance/stocks/financialHighlights?rpc=66&symbol=HOG.AX)
Obviously this doesn't take into account public sediment, which has had a huge effect on this stock.
Anyway, I'm just sticking my nose in as I'm dabbling in shares again (found some money in a shoebox) and I have always had an attachment to HOG. That and they made me a bit of money in the .55c days.
Thanks for the info fellas.
Quite right, Easy - and that's just on the production from their one producing well - they also have the value of their other licences, including the associated geotech from the two non-productive wells they have drilled, or is otherwise available. They need more cash than they have got to put down another well, but a farmout is on the cards.
Good luck
Q2 numbers and update this week...
Just noticed this - I doubt if HOG will like it!
http://www.mining.com/web/who-needs-russia-ukraine-will-destroy-itself-with-new-gas-tax/
Merger has potential i think.
Merger has potential i think.
Certainly you heard a heartbeat. It was the pitter patter of the new/old Board looking for some fresh meat. Perhaps they can dust off some old promising oil wells....Ok followers.. This one worth a punt? New board, $2mill market cap, in 'talks' with potential deal.
I have been a long time follower/investor of old HOG, and I'm back in. I heard a heartbeat....
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