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Re: Updated analysis from Argo Securities
posted on
Jan 05, 2010 10:30AM
From DnB NOR:
Questerre is currently trading at 0.8 USD per BOE and our NAV of 32 NOK per share implies 1.6 USD per BOE. Being the most mature shale gas play in the US, assets in Barnett should be valued at a considerable premium to shale gas plays like the Utica in our view. For Questerre to trade at a similar multiple the share price must reach 119 NOK. (NB)
