Very good point sniperstock, at the moment no one wants to buy...

Very good point sniperstock, at the moment no one wants to buy PVD clearly reflected in the SP. As such, perfect long term speculative punt as a contrarian speculator as PVD seems to be hated at the moment where at one stage it was at least 70 cents, granted the O & G sector was much more positive back then.

Main reasons are the cash at bank, 1 more free carried well in offshore Morocco, its lease in **on with an already proven past small oil find (loba - 16 million barrels of oil if memory serves), Madagascar at its early stage with seismology to be completed. Little to no EV is placed on PVD as such perfect opportunity to get a small play in and tuck away until the next good news announcement, even if that takes 12 months. I am weary though of PVD's cash at bank, I want to see the next quarterly results and what PVD management's cash burn rate is like before committing anymore to PVD.

I could be wrong but at these prices its dirt cheap, but like anything its a small speculative punt and definitely not punting the house on it. I'm more of a patient long term speculative holder and even if it takes 12 months to announce the next drill, I'm happy to wait as 12 months to me is a short time and will be here before we know it.

GLTAH and PVD stakeholders