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Petrus Resources Ltd T.PRQ

Alternate Symbol(s):  PTRUF

Petrus Resources Ltd. is a Canadian energy company. The principal undertaking of the Company is the investment in energy business-related assets. The operations of the Company consist of the acquisition, development, exploration and exploitation of these assets. Its assets include Ferrier, North Ferrier, Thorsby and Foothills. Its core area, Ferrier, is a resource play. The Ferrier is a liquids rich Cardium gas play. North Ferrier is an extension of its core Ferrier area. Its Thorsby asset is located in the central part of the province. Its properties, located in the foothills of Alberta, are a more minor area for the Company.


TSX:PRQ - Post by User

Post by vocex1on Oct 05, 2022 5:56pm
275 Views
Post# 35007933

Catching Up

Catching UpI have been faithfully adding to PRQ position during the past few months. With the recent report confirming 10,000+ boe/d production coming soon with more to come with drilling program underway, it appears that share price is catching up to fundamentals. After all, even with the increase in pricing of 35% since Thursday last @ $1.88 to today's close @ $2.53, Petrus is trading at a trailing p/e ratio of 1.10 and price to book of 1.325. The OPEC+ cuts announced today may be a catalyst for a sustained crude pricing floor, e.g. $90 bbl Brent. It appears that the crude price fall, driven more in recent times by paper future trading combined with SPR releases than by fundamentals, is now being corrected, we shall see. For many countries this Winter, it may not be any longer a question of price, but rather, availability, ask the EU consumers what Plan B is, looks like substitution of crude products for the loss of Nordstream gas to me, ergo more demand, less supply and it is a world market now, after all.
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