SEA vs LNR

According to the latest presentation, SEA has approximately 550 million shares.

At the current price of A$1.37, Sundance has Enterprise Value at approximately $680 million ($1 = A$1.07).

With only 14.7 MMboe of Proved Reserves, Sundance trades at $46.25/boe of Proved Reserves. This is not a low ratio.

To give you an idea, I own Lonestar Resources (LNR) trades at $24/boe of Proved reserves at the current price of A$0.57 per share.

Obviously, the valuation gap between SEA and LNR is big.

SEA's presentation. Please see the company's Proved reserves and number of shares and do your math:


http://files.shareholder.com/downlo...b0a788c/0714_Sundance_Q2_Results_FINAL_v2.pdf