Good cash flows. Low(ish) debt. Reasonable assets.
Might come a point where Mastermann needs to decide whether to run the resources down, pay down debt and then return all profits after that to shareholders, and then sell remaining tenements. If they did all that, we might get more than the current shareprice in accumulated dividends before the gas runs out.
Its seems they just don't have the economies of scale to do anything big...or quickly.
At least with Mastermann having so much skin in the game, you can be sure he will choose the route that maximises NPV, rather than simply continuing operations to recieve a paycheck for as long as possible(like many manager do).
Another reason to be optimistic is that gas prices in Europe are likely to go in one direction...up. The EU will be desperate not to be held over a barrel yet again by Putin.
PVE Price at posting:
11.0¢ Sentiment: Buy Disclosure: Held
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