This baby has been driving me crazy since last week - was in and out between .93 and 1.00 - - what a lesson - am a new trader - finally got in today at 1.50.
IMHO - Petrobank paid $120m for 16% of an estimated 2.6m barrel bitumen. That makes the estimate value $750m (120/.16)
So my DD is as follows:
PFM's 1.15m estimate is 44% of Petrobank's making the property worth $330m (44% of $750m). PFM has, with current 29m o/s and add another 10m recent PP and say add another 10-15m in warrants to be exercised(guestimate) - say 55m when all is counted.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.