Riverstone Energy (LON:RSE) announced it would buy back shares at below net asset value at the end of last week. Since this announcement, the shares have rocketed! Anyone got any thoughts as to what the current NAV could be ? I'm guessing around 550pps which factors in a 25% drop from the last published Nav at the end of last year. If true, even at the current price of 225pps there is still significant upside still to be had in my view.
Thoughts anyone?
Hope you filled you're boots when you wrote this. It is this morning a Questor tip in the telegraph for exactly the reason you mentioned, and still very undervalued.
Kudos to both of you. I have only just discovered this company and oh, what a Stocko page. Never seen such promising figures. A p/e of 1.6! Amazing. I have bought for myself and our investment club (losing money) and can do no more but watch and wait.
