Petrominerales Ltd PMGLF

PMG way undervalued

[oilyandgasy]

This is their second buyback in the last few years. Management realizes the company is cheap. They have tremendous cashflows (over $7 a share), and are trading at ridiculously cheap earnings and cashflow multiples. The only reason that they have been beaten up so badly is becasue of that string of exploration misses from mid 2011. They have huge land base in colombia and Peru and have many exploration wells still to be drilled this year, and with any success we could see $25 easy. I found this article on seeking alpha, this guy goes through the numbers:

https://seekingalpha.com/article/626361-red-tag-deals-petrominerales