tag:blogger.com,1999:blog-9226230.post115496001712012159..comments2023-10-20T05:43:46.254-07:00Comments on All Allan: PXPUnknownnoreply@blogger.comBlogger3125tag:blogger.com,1999:blog-9226230.post-1154969750191516772006-08-07T09:55:00.000-07:002006-08-07T09:55:00.000-07:00Do you guys know whether this sale includes the oi...Do you guys know whether this sale includes the oil properties in downtown Los Angeles that was being hyped in the newsletter, or are the selling other "non-strategic" properties to focus on the LA sites that may have more long term potential?<BR/><BR/>Short or longer term, this turned out to be a good little play.<BR/><BR/>Keep up the great research Allan!<BR/><BR/>Greg ReimanAnonymousnoreply@blogger.comtag:blogger.com,1999:blog-9226230.post-1154963522905596652006-08-07T08:12:00.000-07:002006-08-07T08:12:00.000-07:00Looking at the sale from another angle:PXP sold to...Looking at the sale from another angle:<BR/><BR/>PXP sold to OXY about 11% of their daily production for $865MM. Extrapolating that valuation to a total market cap comes about $7.8B. The current stock price suggests a market valuation of about $3.6B, less then half that suggested by today's sale of <I>non-strategic</I> assets. Pump play--->Momentum play--->Valuation play. <BR/><BR/>AAhttps://www.blogger.com/profile/04435140994142833427noreply@blogger.comtag:blogger.com,1999:blog-9226230.post-1154961729836536862006-08-07T07:42:00.000-07:002006-08-07T07:42:00.000-07:00Damn. How much is this company worth. They just ...Damn. How much is this company worth. They just sold "non-strategic" assets to Occidental. Those "non-startegic" assets are generating 7,200 barrels per day. Do the math, that a whole lot of profits PXP considers <I>non-strategic.</I> On top of that, they are now flush with cash to reduce debt and <B> buy back shares.</B> Take the money and run? Not quite yet.Ahttps://www.blogger.com/profile/04435140994142833427noreply@blogger.com