Petrominerales (PMG)

[dan_s]

PMG was added to the Sweet 16 on Jan. 1 to replace Stone Energy (SGY). See my comments in the Sweet 16 Detailed Update. - Dan

BOGOTA, COLOMBIA--(Marketwire - Jan. 5, 2011) - Petrominerales Ltd. ("Petrominerales" or the "Company") (TSX:PMG - News), is pleased to provide an operational update highlighted by our Yatay-1 exploration well producing 10,440 barrels of 43 degree API light oil per day ("bopd") under natural flow.

[dan_s]

PMG reported 4th quarter production of 33,222 bopd, which is more than 1,000 bopd more than what I have in my forecast model. My Fair Value estimate for PMG is $53/share, not including this new discovery.

[dan_s]

My forecast is now looking very conservative. PMG has $60/share potential.

[prince_jake_33]

I talked to their IR person yesterday about posting shares in my Schwab account. He said the shares may show up in my accounts today. He said something about dividends.

[dan_s]

I think PMG and PetroBakken both pay dividends.