3 BIG reasons to still own  PEC:
 

1) unconvential oil drilling going on now

2) the MASSIVE off shore holdings PEC has, perhaps JV on that as well??

3) Galp pulls the strings and if they see something they like they will drill another hole..  $7 million is nothing to Galp.  If they find gas, its HUGE to Portugal, Galp, and PEC.

 

All imo.

 

SG