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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (41645)	3/13/2011 4:30:55 PM
From: ValueGuy	Read Replies (2) \| Respond to of 78715

I was typing a nice analysis and my comp crashed!!! Anyway, took a look at the energy report again...especially on Pan Orient (POE.V). panorient.ca This oil explorer has property in Thailand, Indonesia and Canada. The property in Thailand is in production. Based on the Q3 financials (http://www.panorient.ca/images/stories/file/financial_reports/POEC_FS_-_30Sep10_-_FINAL.pdf) it seems to be selling below BV! (BV of 187,216k exc non-controlling interest / 48,619,200 shares issued per the note 6) - price quoted per March 11 6.79; BV of 7.90 based on above calc Was thinking of buying a position, though I'll have to go through the Pink Sheets as TD Ameritrade does not do Canadian exchanges (aaargh!)...waiting to change brokers but its quite frustrating. However, not sure if my assessment is strong? In terms of ROE its not good as Vaalco Energy (EGY: NYSE) - Vaalco scored 16.56% but Pan Orient scored 6.87%, though according to their website above their Thailand fields are producing 8k bpd, but info seems a bit outdated as it says 2008