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Petrel Resources – Valuation Not Justifiable

Tom Winnifrith
Tuesday 13 November 2012

Apologies to my friends John Teeling and David Horgan who run AIM listed Irish oil explorer Petrel Resources (PET) but the valuation of your company is just not justifiable. At 19.375p the company is valued at £14.4 million. Even the house broker Northland gives a valuation range of 3.6p (base case) to 14p (maximum best case). The share price is simply far too high and here is why.

on TradingResearchPoint | Comments
About Tom Winnifrith
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Tom Winnifrith is the editor of TomWinnifrith.com. When he is not harvesting olives in Greece, he is (planning to) raise goats in Wales.
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