PES announced 3P reserves in the Cameroon Field of 1241PJ.
The various takeovers valued each Gj of 3P at anywhere from 80c per Gj to $1.80 per Gj.
If we take a value of only 60c per Gj, that is the $600,000 per Pj.
Thus 1241 Pj x $600,000 = $745m.
$745m divided by 94m PES shares is $7.92 per share.
And they have only just started !!!!
How smart were Shell and Arrow to gobble-up all those PES shares at $1.40 !!!!
PES
pepper residential securities trust no. 21
pes 3p reserves now values pes at $7.92 min
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