excellent progress - pvd ticks all the boxes

Things are progressing nicely for this little beauty of a stock and Friday's announcement is merely just the beginning of bigger things to come.

Having only recently floated, this 'virgin' story has all the hallmarks of producing 4-5x profits from these levels.

PVD management have exceeded my expectations even before the share price movement. In times when people are suggesting that it is "the end of the resources sector" in Australia, management have proactively gone about securing more funds with a high quality institution and importantly, with minimal dilution.

PVD is now a company that has a market capitalisation of $15million with $7 million cash in the bank.

In addition to this they have drill ready targets of 2.4 billion barrels of oil in their permit offshore Morocco.

Add to this the fact that Kosmos and many other majors in the region have been scrambling to sure up acreage in the region, and it becomes obvious how attractive an investment PVD is at these ridiculous levels.

The icing on the cake is that PVD is atleast 4 x cheaper than all of its African oil peers per BOE. This discrepency will not last long, i assure you of that.

Another important factor is that PVD are currently interpreting the remain 3D seismics, offering the very real possibility (as they did earlier this year) of more resource upgrades.

PVD is more than one year ahead of its drill schedule with a farm-out to be carried out in the 4th quarter of this year. How often do you hear of things developing AHEAD of schedule in the oil and gas space??? This speaks volumes for the quality of management.

Management have also stated on numerous occasions that they are targeting the acquisition of another high impact project. This will result in significant value add to this company, and i can tell you that when this occurs, it will not be trading at 30c!