The annual report should be out soon. There should also be...

The annual report should be out soon. There should also be quarterly production and activities reports around the end of this month.

Unless one of those farm-ins eventuates, however, it could be some time before we get more news. This is a slow-moving business.

Barring something going wrong with Sillaro, though, it's hard not to think PVE is grossly undervalued. That a bank is prepared to extend an 8 million euro debt facility (of which 6 million is drawn on) at 1.8% over Euribor suggests a static asset valuation in excess of 20 million euro.