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Editor's notes: SMDR.L is trading cheaply due to misunderstanding over 2012's results. Value Digger, who made a similar call on POE.V, sees triple-digit upside as production continues to grow.

Introduction

Benjamin Graham, known as "The father of value investing," is famous for the investment principle "Margin of Safety." The term suggests that investors only purchase securities when the market price is significantly below its intrinsic value. Even though it doesn't provide a guarantee for a successful investment, it does provide for a margin of error.

My followers know well that I enjoy moving off the beaten path and like uncovering overlooked stocks with strong fundamentals. So I'll analyze Salamander Energy (OTC:SALDF) in this article because this company fully represents Graham's value investing theory, and no online financial publication has syndicated any article about it thus far.

Salamander Energy is an independent upstream oil and gas exploration...

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