Do your DD but Swimom has said on this site she thinks PEII is severely undervalued and she thinks the SP, as is, prior to any udpdates should be at least .01. A few people have ulterior motives. Just do some proper DD and you will see what PEII has going for them. S-1 approval instantly makes this stock well above .01.
This company is real, their wells are real their pipelines are real and they have ALOT going for them. Book value is at least .02.
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