sleepy oiler ready to stir, page-5

re: sleepy oiler ready to stir, yup > Ronstieb,

I would never invest in spec oilers with no production on the basis of fundamentals as the market places a value on something (a drill target) in advance that is not even known to to exist,and in fact more often than not has a worse than even chance of not existing. But that doesnt stop anyone buying them in advance. Many do. I do.

So is EPR expensive on fundamentals?
I dont know.
How do you value its large multi million barrel targets in the Otway basin?
EPR are cheaper than a lot of other expensive oil stocks right now.
And their market cap has not gone up much despite the value of their exploration acreage which must have gone up in value.
But will they go up in front of drilling?
a High probability yes.
thats good enough for me.

acturtle