Saturday November 29, 2014
Okhi Vreki – Elias avrio?
Logistics Issue No 2 at the Greek Hovel – Smoking Myself Out but feeling Macho
Video Postcard #90 - The Rochester fallout, UKIP, immigration and the despised political classes

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Petrel Resources – Valuation Not Justifiable

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- Tom Winnifrith

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.

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