Saturner,
You say each well offshore costs $100m. PVD has got 2 free carried wells at the moment covered over $200m, and $20m cash in hand. Possible farm outs soon. Simple math, with this alone PVD market capital should be double what it is now which makes it absolute bargain. SP was over 80c few months ago and dropped due to spud postpone. Wait another 6 months and see the true value of PVD prespud. By far best stock in my portfolio.
By the way, if we knew PVD wells are going to be 100 percent successful then shares would be $20 each not 46c. To me it is well worth the risk.
IMO, DYOR
PVD Price at posting:
46.5¢ Sentiment: Buy Disclosure: Held
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