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Caiman Valores

 
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  • Aurora Oil And Gas: An Unloved And Undervalued Australian Oil Junior [View article]
    Hi Picolomini

    I agree Bayetx is getting a bargain, but the key reasons for that is the level of debt Baytex is assuming as part of the deal and because Aurora's key producing acreage is operated by a subsidiary of Marathon. But given how undervalued Aurora was in comparison to its reserves it was obvious the company had to be on someone's radar as a potential T/O target.

    Baytex have certainly sweetened the deal for shareholders by offering a 9% dividend increase contingent on the deal being completed. It is also a significant even t for Baytex giving the company a U.S. based source of light oil that trades at close to the price for WTI, diversifying its reserve base and production away from dependence on Canadian heavy oil.

    A number of other SA readers I have spoken to since the deal was announced have been loading up on Baytex shares.

    Kind regards,

    Matt
    Feb 9, 2014. 09:55 AM | Likes Like |Link to Comment
  • Aurora Oil And Gas: An Unloved And Undervalued Australian Oil Junior [View article]
    Baytex (BTE) announces proposed acquisition of Aurora O&G for AUD $4.10 cash per share; http://bit.ly/1b9uBEk
    Feb 7, 2014. 12:37 PM | 1 Like Like |Link to Comment
  • Aurora Oil And Gas: An Unloved And Undervalued Australian Oil Junior [View article]
    Richard the reserves have been obtained from Aurora's latest reserves update and I have used the standard 10P methodology to determine their value. The methodology and assumptions used are explained in the valuation section in the article.
    Dec 16, 2013. 12:04 PM | Likes Like |Link to Comment
  • Aurora Oil And Gas: An Unloved And Undervalued Australian Oil Junior [View article]
    Richard

    The values I have used are from Aurora's balance sheet as stated in their publicly available financials. I have also taken intangibles out of that valuation and discounted their value over the 10 year period.

    Hope that helps,

    CV
    Dec 15, 2013. 02:56 PM | Likes Like |Link to Comment
  • Aurora Oil And Gas: An Unloved And Undervalued Australian Oil Junior [View article]
    Richard

    Thank you for the comments and additional information. All of the information that you require is in the article and in the company's financial statements. I am certain that if you look at Aurora's financials you will find the information that you require.

    CV.
    Dec 15, 2013. 01:50 PM | Likes Like |Link to Comment
  • Aurora Oil And Gas: An Unloved And Undervalued Australian Oil Junior [View article]
    PICOLOMINI thank you for the kind words. Typically I look to invest for the long-term rather than trying to catch short-term market up trends. Aurora and APCO are 2 very different companies operating in very different environments but I see both as being long-term plays.
    
    The decision to crystallize a loss for a short-term investment is not one that should be taken likely and typically I look to hold my investments for a medium to long-term time frame. Also APCO is still in the early stages of a investigating how to unlock value for investors.

    Also APCO's share price will continue to feel pressure as WPX looks to unload its position; http://bit.ly/18tFkYu
    Dec 15, 2013. 01:19 PM | Likes Like |Link to Comment
  • Aurora Oil And Gas: An Unloved And Undervalued Australian Oil Junior [View article]
    haoleboy thank you for the kind words and feed back. I believe that Aurora is one of the best opportunities I have found yet. But certainly agree on PTAXF, and in that case much of the thanks must go to fellow contributor Value Digger who brought it to my attention and has a solid record on E&P plays.
    Dec 15, 2013. 04:34 AM | Likes Like |Link to Comment
  • Aurora Oil And Gas: An Unloved And Undervalued Australian Oil Junior [View article]
    sheldond than you for reading and taking the time to comment. Overall I think this is a great small-cap E&P play. But I do agree the leverage is of some concern although with growing production and smarter capex allocation it shouldn't be a major problem.
    Dec 14, 2013. 10:58 AM | Likes Like |Link to Comment
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