PINN: from yahoo: Fundamentally this stock should be trading 10-15 times where it is and compared to its peers. We are currently trading at just over $200/acre ($68,000,000/300,000 acres. Even today with the current production, we should be 5-10 times the current stock value. Take a look at AEZ/NOG for example which are both land heavy companies with almost zero revenues and yet have substantially higher market caps than Pinnacle.
It has 5,000 drilling targets, each well is approximately 0.4BCF of reserves, so total reserves and being conservative is approaching 2TCF.
The reality of it, Pinnacle probably has 4-6TCF in its acreage which makes this a multi-billion dollar asset company.
The insider buying of $4,000 per day for a few days is truthfully insulting, Wall Street knows this. IF the CEO truly believed in the company he would be running to borrow as much funds as possible to make the easy bet on the company.
I doubt the current CEO believes in the company or its assets otherwise he would be making a $250,000 plus purchase of stock at these levels. He should be running to the bank to buy as much as he can at these levels.
Management needs to get their story out of their assets and potential. Not only does the CEO need to step up huge to the plate to purchase but so does other executives and directors. Right now, they are missing in action.
AI
