RE: What's the Craic28 Sep 2014 16:58
Seriously Everton222, things look good for PTR at the moment. If you look at the last few RNSs (maybe all the operational ones for 2014) you'll see that the farmout has left PTR debt-free AND with millions to spend on further drilling. The T-5 drill is well underway and results from the horizontal drill there should be out at the end of October. These results are broadly expected to be quite positive and if they are good will certainly result in an so increase. Goodbodys value PTR at 11 pre-drill with an upside to 14.2p.
I think the market is wary of PTR as a result of what most agree was poor management over the years. However, since September 2013 the sp has doubled. With Oil India having invested 85 million there is a sense that the bod will behave themselves and treat shareholders with the respect that was lacking for several years.
All in all I think PTR is now a solid investment. There are short-,mid- and longterm plans for specified drilling areas. Like every oilie PTR's success depends on drilling results but with a large P1, and an even larger P2 there is every reason to expect success.