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12	member 2/06/12 5:53PM RE: RE: RE: For Sugar - GFP Questions 11
Dr, I don't think you missed any acquisitions, their most recent prior to the Marcellus deal was the Thunder properties deal, which was announced prior to 10/31/2011. My point was that the reserves as of 6/30/2011 were... login to read the rest view available tags
11	member 2/06/12 5:26PM RE: RE: For Sugar - GFP Questions 10
Sugar, I was referring to 51-101 filed on 10/31/2011 and covering reserves as of 6/30/2011. The only subsequent acquisition not included in the report that I saw was the 1/31/2012 announcement of a Marcellus... login to read the rest view available tags
10	member 2/05/12 6:20PM RE: For Sugar - GFP Questions 9
Dr, thanks for taking a look at GFP. Thats a 1 year old reserve report, put out around when they acquired the properities covered by the report. Since then, they have more than doubled production, and... login to read the rest view available tags
9	member 2/05/12 11:39AM For Sugar - GFP Questions 8
Apologies for hijacking this thread with GFP questions. Sugar, it appears that PDPs are only ~25% of GFP’s net 1P reserves and 32% of the 1P NPV-10. The company states that: “... login to read the rest view available tags
8	member 2/05/12 4:46AM RE: RE: RE: RE: RE: Acquisition IRR and Signaling 7
Dr, you're welcome. I really think its worth taking the big step down to a micro-cap company to buy the low multiple, triple digit growth, free cash flow and 60+% discount to proved reserve value. I... login to read the rest view available tags
7	member 2/04/12 9:24PM RE: RE: RE: RE: Acquisition IRR and Signaling 5
Sugar, thank you for the suggestion of a new name to study. While SD does have material deferred tax assets, they do not seem to fully cover the existing 1P reserves' cash flows so to... login to read the rest view available tags
5	member 2/04/12 5:48PM RE: RE: RE: Acquisition IRR and Signaling 4
Its not fine. Capacity is already streched, at least from what I'm hearing. Hz production rates are higher (read higher line pressures for oil and for gas), the quantities are greater, the drilling is taking... login to read the rest view available tags
4	member 2/04/12 12:26AM RE: RE: Acquisition IRR and Signaling 2
Sugar, what do you mean by "infrastructure intensive"? Are you referring to salt water disposal? Miss Lime is an old convention field with (if memory serves) some 14,000 conventional well already drilled. They are going... login to read the rest view available tags
3	member 2/04/12 12:16AM RE: Acquisition IRR and Signaling 1
Okay i had to dust off some of the Corporate Tax books. Methinks this acquisition looks like a type A reorganization with boot. The Standard measure you cite ($1.2 bil), did you find that on page... login to read the rest view available tags
2	member 2/03/12 11:55PM RE: Acquisition IRR and Signaling 1
Dr, I'm going to have to disagree with you on this (despite sitting on the sidelines and fervently hoping SD trades down to $4 on shareholder disapproval of the transaction, so I can go load... login to read the rest view available tags
1	member 2/03/12 9:17PM Acquisition IRR and Signaling
Thank you for the write-up. Please correct me if I’m wrong, but it appears from the S-1 that the Standardized Measure of Proved Reserves (SM) for Dynamic Offshore is ~$1.2bil (with an admittedly low-ish... login to read the rest view available tags

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			2018	2019
Price:	38.04	EPS	3.06	3.59
Shares Out. (in M):	53	P/E	12.4	10.6
Market Cap (in $M):	2,016	P/FCF	10	10
Net Debt (in $M):	1,891	EBIT	325	336
TEV (in $M):	3,908	TEV/EBIT	12.0	11.6
Borrow Cost:	General Collateral

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