Simple valuation:
41,000,000*.10 = 4,100,000*$65 (conservative oil price) = 266,500,000 chop of 66,500,000 for the unknown, giving the asset a value of $200,000,000.
At 21.5c and 588,612,110 fully paid shares on issue the company is valued at 126,551,603.65.
At 34c the company is valued at 200,128,117.40.
PPP appears to be around 12.5c or more than 50% under valued at current levels.
Regards.
one of the best buys atm, page-10
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