Petrominerales fka PMG

[TheGreatDane]

PMG Intrinsic Value:

Let's say PMG September 2010, PMG gets 70k barrels a day net.
Let's say they make $55 netback on $70-75 oil.

That would be 1.4 billion in cash from operations, times a 6 multiple (which is probably conservative for rapid growth S.A. company) = 8.43 billion market cap, say they keep on buying back shares down to 95 million -> PMG could be trading about $89 per share with 2 years.