Big drop in the 3 Petros???

[bobs]

All 3 took a big hit and appreciate comments.

[dan_s]

Just about everything down. Nothing unique about those three to worry about. All three are heavily weighted to oil.

Petrominerales looks the best to me right now. See my updated forecast.

All EPG members got a special alert on NOG and PMG yesterday.

I will be working on Petrobank tomorrow.

[dan_s]

I just completed updating my forecast model for PetroBakken:

Year - - EPS - - Cash Flow per share
2009A $0.34 - $2.84
2010A $0.26 - $3.33
2011E $0.80 - $4.17

For my 2011 forecast I'm using $85/bbl for their realized price for liquids. Compares to their realized price of $73/bbl in 2010.

My Fair Value estimate is $33/share (just 8 X CFPS)

PetroBakken pays no current income taxes in 2011, so a high percentage of any increase in oil prices will fall right to cash flow per share.

My detailed forecast model will be available on the website under the Sweet 16 tab tomorrow. Just click on the Petrobank logo. Petrobank owns 59% of PetroBakken.