
TSE:ATH
This is one that investors have gotten a little bit frustrated with. In August, Kuwaitis were forming a deal to do a joint venture. It now looks that the deal has been reaffirmed again. At this valuation, this should do fairly well. For its barrels in the ground, it is trading at about $0.15 and should really go for $0.75-$0.80.
(A Top Pick Oct 28/11. Down 0.97%.) If you look at the last 2 joint ventures that this company did, around $1 a barrel and where Chinese companies were willing to put up hard dollars for the assets, you’ll get a value of probably $24-$25 today. It either gets bought or moves substantially higher. Great long-term assets.
Industry is getting very expensive. Management is dragging their feet.