As a long term investor in CLL I hope we have a buyer, if you look at the "ACTUAL" NAV below The price would realistically be between $3.50 and $4.50..which is what Eric Nutall was refering to on BNN last week but didn't actually say it.. Check the following figures..
If you are in, and out, of this stock you may miss the the day that there is a cease trade and when it opens it will be at or between the above figures and you will be out of luck..
Rightly or wrongly this is my read on the situation and I will stay long as I increased my holdings significantly at .375/share..
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
