RE: RE: PostMortem Re-org They should have taken both private.
Pbn is dealing with issues including production, spending, crude differentials etc. however, at current levels longer term this looks to be one of the more undervalued co's in the sector out there.
Pbg on the other hand is significantly more undervalued due to holders now no longer invested in an large oil and gas producer. You have funds indiscriminantly selling off a couple that doesnt meet their criteria such as mkt cap, price and are only mandated to be invested in a big cap oil and gas producer. Tere in lies huge opportunity
Pbg is now trading at 12% below their cash value and most importantly has zero debt You have the company buying back 4 million shares, 350 boe/d in production. Disruptive technology that allows them to partake in major exploration plays with big co's for free by using their tech and they have significant acreage that is worth a substantial amount. That is all for free.
can the share price go lower? Of course, it will go to. As low as a fund says get it off my books. However, break up value i. Tink presently is at least double. Hard to find such opps.