Petrominerales Ltd PMGLF

Share Value of ExploreCo

[939]

Does anyone have an idea of what a share in ExploreCo will be worth?

[Squint1]

They paid $35.8 million for their interest as per Note 10 to the 2012 financials and spent a further $1.6 million to Q2 2013.  With the $100 million cash, it comes to about $1.56 per share based on the "cost" of the lands.  It is uncertain as to what is the value.   Brazil Assets   Purchase - Dec., 2012 $35,800

[deisman]

I would venture a guess that with the $100M starting capital Plus $37M for their 75% stake in Alvopetrol Plus about $7M for the recent 3 Blocks picked up in the recent Brazil Bid round  Plus CAPEX spent on drilling in Brazil prior to closing ( est $5M) for a total of $149M.   Divide that by 85M shares for about $1.75 per share IMHO  Existing production brought in $800k in 6 months

[lonewoolf]

This post has been removed in accordance with Community Policy

[raziel]

 Where did you get the valuation for Explore Co?  65 pennies ( UK)  would have a value of about CAD $1.10.  

[eliner63]

The market is illogical.  It assumes they will destroy half the value of ExploreCo in the next 6 months, or maybe there are just to many bargains to be had with the recent profits.

[Storck]

The NR states that the $100M cash will reduce to 90M as a result of their purchase of the partner's 25% share in Alvopetro, the Brazilian affiliate. ExploreCo will therefore have 100% of the properties and $90M in cash. The cash alone comes to about $1/share - at what level above cash value they are able to trade will be determined by the market's view of the properties.The

[939]

Thank you, for all of the informative responses.  I appreciate the help!