I have/am doing some comps on other near bankrupt gas producers. PMT is the best in my opinion that I found.
EG . Petrus. Same production levels , higher debt. Price target $1.25. Did I mention 2X debt. Gets twice the market cap.
That would put PMT at $1.50 plus only half the debt. Hard to go bankrupt with no debt.They also own 4 million warrants to buy back Rubellite at $3 . Giving them 9% ownership. When they hit 2000 bbls/d, RBY will be $5 imo. Plus no debt and another$12 million from PMT to go toward the many holes in the ground.
Well done for buying PMT at 5 cents. Wasn't on my radar then. Congrats on a gazillion % return. I started buying at 31 cents. I bought more yesterday.
I owned it for years after it was spun out from Paramount and Clay Riddel to Sue Riddel. 15 years ago? I sold most of it for about $8 then got rid of the last of it for a grand total of $20.
Q3 and Q4 is a different world for these guys now. Bonanza time. Cue Hoss and little Joe.