IPM incremental petroleum limited

unwatched and undervalued oil producer

  1. 2,123 Posts.
    lightbulb Created with Sketch. 1
    Tax loss selling has taken its toll on this stock but presents good buying at 1,35;
    - pays dividend (12% forecast for 2008)
    - earnings per share around 20 cents, 43 cents forecast in 2008
    - zero debt
    - brokers like them; valuation at $2.28
    - $18 million cash flow
    - Enterprise Value versus 2P reserves of $7.13 per barrel .Looks like the best oil value right now
    - acquisitions being considered in gas business
    - only negative is perceived country risk as it is near Turkey-Kurdish border. But as somebody told me, PKK only bombs coffee shops, not oilfields. Oil production being going safely since 1960's and field has 25 years more of reserves


 
arrow-down-2 Created with Sketch. arrow-down-2 Created with Sketch.