WARREN RESOURCES (WRES) is extemely UNDERVALUED!

Berry got $7.33 per BOE in this environment!

Valuing Wres the same way and using the Q4 BOE, 21.55 million BOE.21.55 x 7.33 values WRES at 157.96 Million.Remove the debt of 108 and you get 49.96 million plus the 30 million cash equals 79.96 million divide that by shares outstanding 58.19 you get a value of $1.37 per share.

But wait, it gets better in my mind. You still have 37.83 million BOE that we all know is there only it can't be pulled without $50/bl oil. So even if you place a very conservative $2.5 on that you get 94.75 million divided by the shares, you get $1.63/ps and that is very conservative so a very conservative estimate on this company is $3 per share.


I believe you can now see why you had the heavy insider buying at $3 a couple of months ago, the company knows in a sale they would get a MINIMUM $3 per share.I believe in a more normal environment with oil above $50, this company would easily fetch $10/boe x the 59.33 million you would get 593.3 million less the dbt of 108 values the company at 485 million or roughly $8 a share.


Based on Berry and even with the environment you can see just how badly undervalued this company is and I am using very conservative numbers to come up with the $3 per share number.