Breakup value of PDQManagement needs to concede they have run this ship into the ground and sell at the best possible price. Breakup value of this company is still at least a double from here (woopie).
They will not successfully pull anything off here ... they are much too complacent and incompetent. Better to sell the assets to a company like PXT or PTA and allow them to properly exploit some reasonable assets. And do it before money runs out at the end of the year.
CPO-5 has loads of low risk prospects, and 1 developable discovery. Talora has unconventional and large scale low pressure conventional ... someone with cash know-how could make this into a cash cow with reasonable results.
I'll take shares in either of the above companies, but the reality is PDQ would be bought out for $20-30M at best .... recall SMQ (formely Quetzal Energy) selling for about $12-15M plus repayment of small debt. And all they had was 25% of Canaguaro.
Sold a chunk this week but will hold the rest in hopes of a buyout .... or a great Loto-1x redrill, though I do not think they will have the money to drill it after the 3D seismic costs.
Remeber the days of 0.65 - 0.70 a share? oh the good ol days.