Fox Petroleum, an oil and gas exploration and production company headquarter in London, England, announced receipt of positive feedback in a new third-party analyst report titled “We Believe Fox Is Currently Significantly Undervalued.” The report, authored by analyst Ernest C. Schlotter, was released to the public on Tuesday, March 4th by SISM Research and Investment Services.
Earnest C. Schlotter, wrote, “Despite encouraging fundamental improvements within the Company as well as record high oil prices, the stock of the Company came heavily under sell pressure and currently trades at $0.87, which is only 0.12 times our calculated heavily risked-adjusted Appraised Net Worth of $7.33 per share. Despite a sharp price correction during the last four months we maintain our Speculative By/4 rating for Fox Petroleum and have arrived at a 12 to 18 month target price of $5.50, based on a 25% discount to our heavily risked Appraised Net Worth of $7.33.”
Chief Executive Officer, Richard More responded, “With yesterday’s surge to a record high in the price of oil, we are pleased with the timeliness of the SISM report. We were previously aware of the sell-side pressure on our price, but were pleasantly surprised at the outside acknowledgement of our significant under valuation. The 12-month forecast by Mr. Schlotter gives us a positive goal that we feel is attainable with the 2008 program we have in place.”
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