Whatever the buyout unless it is at least $3.50 the Exec's and BOD of this company should hang their heads in shame and appologise to shareholders for stringing us along all these years with platitudes of striving for shareholder value which is one hell of a joke. By their own numbers the after tax value including discounting the debt is 4.98.
Here is the value of what Connacher has: 10 October 2011of proven and probable oil reserves - $3.1 billion
Best estimate value of contingent - $570 million
Other assets - $140 million
Total assets - $3.8 billion
Less net debt - ($880 million) ( very recent sales not deducted)
Net asset value, pre-tax - $2.9 billion
Value On a Per Share Basis:
On a pre-tax, per-share basis, this equals $6.54 per share.
On an after-tax, per-share basis, this equals $4.98 per share.
Excluding the contingent resources, this equals $3.71 per share.
Scotia`s analyst, recent 1 yr target $1.60
