I'll admit that I am an unabashed fan of this stock. The risk/reward scenario for POE is exceptionally good.What follows is just one more reason why i like the stock.        Recently,Baytex Energy {oct 2,2012} announced the purchase of additional lands in the Peace River area that contain 43.7 mmbbls. of proven plus probable reserves.They paid $2.75 a barrel,or $120million.Larger players like Baytex are busy solidifying their positions in the area. They consider SAGD assets as',long life,low decline assets".They too plan a pilot plant in 2013.

The purchased lands are in the same area as some of their current holdings,some of which are adjacent to Andora land.This land bordering some of Andora's also has proven and probable resources,,,,,,so,,I don't think it's much of a leap to assume our pilot plant will confirm our current 'contingent" resources to be also in the "proved plus probable',catagory. Therefore,applying metrics of the recent Baytex purchase,POE's share of Andora's resources {now 71.8%} would indicate an indicated value of $423million, or $7.46 per POE share.