re: Ann: Change of Director's Interest No... PVE can fund its...

re: Ann: Change of Director's Interest No... PVE can fund its next 12 months from internal cash flow, including drilling Gradizza which has the highest IRR of all the projects. The spur line for Bezzecca can be funded from the debt facility

Overall the company is in very good shape, the big ticket items , drilling and development of Carola/Irma and the oil plays require significant capital, so its a wild card right now how they manage it.

On the Euro crisis front , which is really holding this stock back, the Super Marios are doing a great job stabilising the situation, I expect a big rally in the Euro at some point . Mario D wants to monetise and QE, which is inflationary and the only way the debt can be repaid. Mario M is doing his best to get some reform happening in Italy .

The gap between the NPV and current market cap is enormous. the gap will slowly be filled . I have a five year view on this stock and still see $1 plus within 3 years.

I noticed Hunter Hall are sitting on a huge pile of cash, I think 22% of funds, this is common with the fund managers. they are probably concerned about ongoing redemptions and dont want to be caught short. Once the tide turns that cash will return to the market.