Pieridae Energy Ltd T.PEA

Under valued

[Dazzle01]

At the current price and assumed debt of $190MM PEA is trading at a flowing barrel metric under $8,000 a barrel. PEA would be an very accretive acquisition.

[commonsense101]

The acquirer would also be assuming the risk of uncertain success in applying for getting the operating licences transferred from Shell. The acquirer having a clean balance sheet would give them a better shot with AER than PEA had and has, but no slam dunk. Its not like there is a shortage of assets a potential acquirer could go after. Why this one ? As far as how it could be acquired..... 

[commonsense101]

Debts being assumed also includes AP. The majority of the $117MM PEA carries is not normal cash flow.

[Dazzle01]

PEA likely has or is very close to having the balance sheet that will satisfy the LMR requirements.