Recommendation ‘buy’, target 340p (current 105p)

Fellow AIM firm, like Providence, is working on a farm-out deal for its field development project. The North Sea firm is expected to have a deal in place before the end of the year. And, according to Whittock, the transaction should be on better terms than the company’s current market price implies.

http://www.proactiveinvestors.co.uk/companies/market_reports/59052/oil-column-liberum-sees-silver-lining-in-londons-eps-0000.html

This works out to about 5.37 in canadian dollars.

If that is what the share price could be on a re-rate once there is a farm-in deal (end of the year) then this would be a huge buy at 1.65. That is a 3.25x to today's price.

What would the SP be if they are around to get to production?

What would the SP be if they are taken over?

Worth the wait.