If PYM is a sell at these prices then all oil and gas producers are a sell. I cant see better value on any oil stock looking at the fundamentals:
-3D seismic over 50,000 acres (this is what majors want to see for acquisitions) - no debt (convertable notes at 30 cents with major shareholder) - $4m+ cash at bank - approximately $10,000 revenue per day from share in 34 producing wells (this excludes TB wells) - likely P1 reserves of 5 million barrels + - 257 million shares on issue - plan to drill 30 wells, self funding after 4 (they have 2 and one underway)with 6 wells in 2012 - production facilties in place to take any gas
Anything I missed?
PYM Price at posting:
7.6¢ Sentiment: Buy Disclosure: Held
