Re: cll mentioned as possible takeover target on bnn
in response to
by
posted on
Aug 25, 2009 10:02AM
Connacher is a growing exploration, development and production company with a focus on producing bitumen and expanding its in-situ oil sands projects located near Fort McMurray, Alberta
Scott:
I'm not a takeover advocate, I prefer my cll on it's own.. That said I'd have to argue with you about it's viability as a target.Yes total debt,including future tax obligations and employee benefits total 1,101.135, 000. However with total assets valued at 1,723,370,000 it still has a shareholder equity value of 622,235, 000. In fact the share price is currently way undervalue at .89..If you take the shareholder equity and divide it by the total diluted shares of 439,890,00 you get $1.41 a share.According to my calculations our SP is 60% below true value.