Ok, so now PGS has got a total of $25M in free-carry expenditure across PEL 514
(A) $9M = 20% of $45M Senex for Oil (2 holes to be drilled by Nov 14) retaining 20% interest + bonuses
(B) $16M = 20% of $80M Senex/Origin for Deeps 'Patchawarra' (Gas ) retaining 10% interest
+
Approx $4.0M in cash
=
$10.60M market cap / EV approx $6.60M
Looks good value punt to me, taking into account Anatol's supported findings regarding the potential of the Patchawarra. DYOR
ORG Price at posting:
$14.70 Sentiment: None Disclosure: Not Held
SXY Price at posting:
71.0¢ Sentiment: Buy Disclosure: Not Held
PGS Price at posting:
2.0¢ Sentiment: Buy Disclosure: Held
