Replies to post #1790 on Oil and Gas Main (fka OGM)

[rossi]

From another board
Folks - new to the board

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.

My fair value for PFM is 330m/55m = $6.00

I'm not selling....