EEN - Undervalued & Oversold

Steve

Very helpful notes, thanks for the research.

Proven resources from producing fields (e.g. PetroCanada's) should be valued higher than proven resources from non-producing fields, which in turn are valued higher than probable, then possible. As for prospective resource, the predominant asset class so far in EEN's Block 26 licence, they are at the foot of the value chain.

I'm not smart enough to call the number that optimally values EEN's probable reserves/BOE, or possible reserves/BOE, but I believe it's significantly below $9.50/BOE because of the asset class