IMO 60c within a day or two may be a bit optimistic. But as I hold PTR I would be more than happy to be proven wrong.
I would say a conservative 20 percent after trading settles down. Then a further 10 percent on the weeks leading up to the Copenhagen Climate Conference in December.
Remember that the government is going to proactively promote the fact that they are financially seeding renewable energy development in Australia. The four REDP recipients will no doubt benefit considerably from the governments self promotion.
The successful completion of the Paralana 2 deep injector well should add at least 5 percent to the price as its associated risk element is removed in the coming weeks.
So I think the share price should be at least 50 cents by the beginning of December with Petratherm having a considerably better profile and significantly more investor interest over the next six months. Things are definitely looking up for the team.
I also like where PTR are heading with Spain and China.
Systemiser.
PTR Price at posting:
46.0¢ Sentiment: Buy Disclosure: Held
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