Capricorn energy. Cne.l
The market cap is $290m.
Cash is $142.7m.
Receivables from Egypt are $84m.
The company has production rights until 2040
Reserve replacement is running at 277%.
Activists are negotiating a potential all-cash takeover.
The stock trades around 300p.
My estimate of fair value is 550-600p.
The market is pricing this as though the bid is unlikely and the business isn't worth much.
I suspect at least one of those assumptions is wrong.
\\-copied from someone else