Even with today's price rise, PTR still only has a market cap in...

Even with today's price rise, PTR still only has a market cap in the region of $45mill. Yet the company has $13mill+ in cash, and non-dilutive funding of $63mill (assuming technical milestones are met).

So the cash and cash equivalent backing of PTR is now basically $76mill. This means that the market is currently giving PTR a negative enterprise value. I.e., the current wells, technology, Spanish pipeline, and management expertise are currently being valued by the market at minus $30mill.

With an enterprise value of minus $30mill, you would have to say that every conceivable technical risk is more than priced into the stock!

But the key here is that funding risk is now virtually non-existent. With the $63mill grant now locked, in, and with the expertise and partner funding from Beach and Tru-Energy, PTR will have no problem funding the 30MW commercial scale plant.

I think once a few analyst crunch the numbers on this one, the SP will double very quickly. There is no way this stock should be trading below the value of its cash + grant money.

Longer term (3-5 years), if PTR can prove its technology at a commercial scale (i.e., prove to be a carbon-free, base-load power source at a price comparable with coal under and ETS), we are easily looking at a $bill+ company.