Petrominerales Ltd PMGLF

Re: Market Price

[oilwatcher13]

The current market price represents the $11.00 per share plus the 50% valuation of ExploreCo due to the lack of confidence in PMG management. The market thinks these guys are a bunch of clowns that could not find oil at an Exxon station...IMHO

[bl1949]

Even if they can't find "oil at an Exxon station", they still have the land holdings and RBC considers this to be worth $1.80.  Discount that by 50% and you get cuttent market.  If they can find oil in Brazil (apparently lots of it there) the value of that share will be well above current valuations.

[oilwatcher13]

The latest press release indictes an additional 18 million to Exploreco as the assigned operating budget for the assets spun off in this deal. Had 100 mil and spent 10 indicated 90 mil cash and now includes 18 mil of budgeted expeditures for 2013. This should add an additional 10 to 20 cents to the share value but we don't see it. Why you ask - erosion of shareholder value by Mr. Wright and Mr

[Russmov]

I'm wondering if its worth holding on til the takeover and see what the new resourceco stock does, or just get out now. Hmmmm