GREY:PMGLF - Post by User
Comment by
lrodri7418on Jul 25, 2012 10:59pm
314 Views
Post# 20153142
RE: RE: what is going on?
RE: RE: what is going on? Well, if there are "just" 30 million in reserves and PMG production is over 30,000, simple math explains the whole thing.
Annual production is equivalent to over 10M bpd, which means PMG has just three years of reserves and depletion is accelerating, so if they cannot add reserves and replace production the stock will not go up especially in case there is a major correction in international markets.
So last 12-m period exploration failures has taken a heavy toll in PMG expectations and they better begin to find some oil unless they wanna see their stock going down the toilet.