Reach Subsea - A Norwegian Stock Trading At a Highly Attractive Level Reach Subsea is a norwegian provider of IMR, ROV and other services for the maintenance of oil-riggs, offshore windmills and freights, currently trading at the Oslo Stock Exchange under the ticker: REACH. The oil- and gass industry, as well as most companies associated with that industry have been underappreciated in the market for some time now. Reach Subsea falls into that category of companies, currently trading at an enterprise value/ebit of 2,83. Solely looking at a p/e ratio, the low levels could potentially be defended by high debt levels and other weaknesses, but after looking at the enterprise value/ebit (taking all debt and cash on the company's balance sheet into account), the company looks both financially healthy and highly undervalued. The low multiple peeked my interest, and I chose a conservative discounted cash flow analysis to further calculate the company's intrinsic value. I've used Re