Brasil has 100B barrels and PBR is the main oil company =extreme cheap.
The production problems and government interference in the company through gasoline prices has pushed the stock to attractive levels, Nick Robinson, who helps manage $15 billion of Latin American shares at Aberdeen Asset Management Plc (ADN) in Sao Paulo, said in a June 11 telephone interview.
Brazil has at least 50 billion barrels of recoverable reserves in the pre-salt, an area the size of Florida in deep waters off the coast of Brazil. Independent estimates put the reserves in excess of 100 billion barrels. Petrobras operates the biggest discoveries in what geologists call the picanha azul, or blue steak, because it appears on maps as a wide blue strip shaped like Brazil’s traditional beef cut.
“The fundamental story is still pretty decent in terms of the potential for production growth they have, the resources are still there, which are very attractive when compared to the other majors around the world,” Robinson said. “We’ve been topping up a bit really on this weakness, it certainly has been quite cheap.”
Petrobras shares traded at 0.7 times the company’s book value yesterday, the cheapest level in at least a decade and the second lowest among major oil companies after Gazprom OAO (GAZP) at 0.48, according to data compiled by Bloomberg. The stock has lost 13 percent for investors this year in local currency terms.
look at the 2008 graph.. $14 and in 2009 $53.. company is not going away and neither are their assets.. World Cup in 2014 and the Olympics in 2016.. that says something for Brazil.. whoever is buying PBR $14 will make good money!!!