Petrominerales Ltd PMGLF

Acquisition

[maxleverage]

I hope PRE considers buying them for $10-11 per share ($900 M equity value).  Time for a new management team.

[Mastermind_9999]

Wishful thinking my friend...but I will add my wishes into the pot!  Bought at $9 last week, got raped today.    

[maxleverage]

Why wouldn't it be interesting for someone?  The pipline assets are worth about $3 per share.  Thus, at the current share price you get the 2P reserves, the exploration upside and say 25,000 barrels a day of production for about $4.50 a share (net of debt).

[Mastermind_9999]

I totally agree with you.  A company could make their money back in a year probably.  Just gut all the PMG staff, maybe keep on some operations guys to operate the wells if you don't have your own crew in Colombia. It would be a nice source of cashflow, plus the pipeline asset you mentioned.  Also, a huge land position for future development.  It would seem like a no

[oilwatcher13]

RBC just reduced their price target from $25 to $14 based on the lack of results from management. Everyone has lost faith in this management group, or should I say mis-management group. We need someone to come in and make an acquisition of this company to get rid of this mis-management group IMO.

[maxleverage]

Fully agree.   As I said earlier, you would think the current share price would leave potential suitors salivating.   The pipelines interest alone are worth $3 per share (they paid $300 M for it).  My fingers are crossed that we get a 40-60% premium on the current stock price and then move on from this disaster.  The only think going for us now is that management