http://www.thesharehub.com2 Jan 2018 22:18
Comments from Jak the share hub, REF 2018 top 10 picks.
I totally agree with your comments re: PVR. Yes they have been shouting a deal is on the horizon for years, but things really do appear different this time.
You have to remember they were almost bust early last year, and that big placing saved their bacon (and mine ..lol). There were rumours that certain parties were waiting for PVR to go bust so that BROE and other assets could be picked up on the cheap, and that is a possibility. But like I say, the placing changed that and PVR are now debt free and have a big cash reserve.
PVR also made a point that they were going to go for the appraisal well on BROE, with or without a farmout, and they have the cash to do so. Interested parties would have to pay a lot more if PVR prove up the reserves on BROE, so now more likely to get a deal.
Of course they now also have Pat Plunkett (who has already invested £120K of his own money in PVR @ 12p) and Angus McCoss on the team. Both of whom are well respected by the city, and were instrumental in making a success of TULLOW.
Then of course there is the PoO, but the most important thing is that new seismic processing techniques have been completed on BROE (info became available at end of Oct) and appears to have alleviated the fears of many investors/interested parties. For example a well informed poster on another BB who has been extremely bearish on BROE for years has now turned full circle and is very positive.
So yes, I believe we may well be close to seeing and end to those serial disappointments you quite rightly mention. Personally I have taken advantage of the current low share price which is due to the 2 dusters this year.
Best of luck for your investments in 2018
Jak
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