In Oct 2007 Morgan Stanley prepared a bull to bear DCF valuation...

In Oct 2007 Morgan Stanley prepared a bull to bear DCF valuation summary of a number of energy companies.

Interestingly the bull case for ARQ was 2.55 and the bear case was 1.15.

ARQ is now trading at 1 which is 15% lower than Morgan Stanley's bear case and some 69% percent lower than the DCF value of the company.

I am very interested to know how the rest of the HC team is valuing the company.

********I am a rookie and my research should not be relied upon do your own since this message was for discussion purposes only************