SEA sea forest ltd

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Ann: Cleansing Notice, page-8

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moremoneyplease

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15/03/18

17:07

Post #: 31784302
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Originally posted by akap ↑

Watching with interest. I pulled the pin coming out of suspension a week ago with the view that the cap raise may have caused weakness and fair value based on my figures might of been a touch lower than current SP .... my suggested fair value at around 6.5- 7c based on the street talk assumption around Elliot buying in (accounting for risk reward ect)..... this would of been working on a target of 20-24c after pioneer purchase at a P/E of 9 (wont get there with that much debt but was trying to come up with its top side). Based on the cap raise with more than expected share issued due to the 5.9c offer (previously was working on 6.8-7c) and more debt than I account for with the Debt funded drilling over next year, along with the increase expected in production to help counter act.

Based on 15% more issued than i expect id have a target sitting somewhere around 15-18c if executed perfectly over next 2years. My other concern in the volume of stock on issue now.... a consolidation should be considered to reflect its current status.

I do believe the risk now has been substantially lowered and because of this my risk associated premium has reduced (got funds to play with finally). Id be happy to consider again at around 6c buy in.

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yeah,

10-14c 1 to 2 years time
14-17c 2 to 3 years time

require good execution and keeping development expenes in check - would like to c a divvie back in play as well

buying under 10c in coming year probably OK but over 10c would need a more compelling argument - that of course will depend a lot on the oil market and commodity pricing.

could probably sell dimmitt now and use to pay a divvie - that would be nice - 1c per share

SEA Price at posting: 7.3¢ Sentiment: None Disclosure: Held
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