I never cease to be amazed by the fear in people.
Lets for a moment imagine that PVD just sat in the market with what it has today and forget MZ1. (it cost nothing and it is effectively gone)
So here is a fresh little company with a lease in Morocco and a free carried well to be drilled before September 2016, plus 100% of a lease in **on with some oil in place and an excellent prospect of leads, plus a 50% share of an interesting lease in Madagascar where seismic has just been done and where there have been oil shows on the boundary of the lease.
Only 150m issued shares and $7m in cash. Now wouldn't a reasonable value for such a company be say $30 m when you add up those assets and consider management expertise.
Someone else, at their own expense and no cost to PVD has drilled an unsuccessful well on the Morocco lease and in no way altered the accuracy of the information above and panic sets in.
I think its time for some common sense and time for PVD to step up and reinforce investor confidence. These cheap shares are getting in traders hands and will see churning and hold back share price growth.
Cheers all,
PVD Price at posting:
5.6¢ Sentiment: Buy Disclosure: Held
