RE:PTA Valuation
I believe 0.50-0.60 is an attainable target based on projected cash flow alone.
The following calculations are from Bobwins ( a retired banker) on another site:
"PTA.v is already profitable. Earned $14million in Q1 or .02eps.
Earned 14million plus 7 million depletion/deprec so 21million cashflow in Q1 divided by 750= .028cashflow before the new well.
They were at 5000bpd in Q1. Let's assume with the new well +3 more by year end, they increase to 7,000 bpd net to PTA.
7,000 X $80 netback= 560,000/day X 90 days= $50million cashflow/qtr divided by 750million shares= .067 cashflow/qtr X 4 = .27 annual cashflow."
Just applying a very conservative price to cash flow multiple of 2, equals an sp of 0.54. A more realistic valuation of 3 times cash flow equates to 0.71.
Regardless, PTA is crazily undervalued at these prices.