seeking alpha is a blog not an unbiased adviser so take with a boulder of salt. that being said, i agree that PWE is undervalued based on its assets and my target is a modest $16 but if someone wanted to buy them out mid-20s would be a likely price.
I have been saying PWE at least a $20 stock for the last couple of months. Good to see others also supporting that position. He also says his $24 estimate is conservative and doesn't reflect the huge potential in its land holdings. It wouldn't surprise me if an oil major made a play for PWE.