Prospectiuni manager: Company's value could exceed 500m euros

Prospectiuni Bucuresti (PRSN), controlled by businessman Ovidiu Tender, a “star” stock on the RASDAQ market in terms of growth witnessed since the beginning of the year, could be worth over 500 million euros in the medium term, i.e. almost double the current value, according to the company’s general manager, Traian Gubandru. The company is the only provider of geological prospecting services in Romania and expects an over 50 million-euro business this year. Currently, Prospectiuni’s capitalisation amounts to 281 million euros, after its share value increased seven times since the beginning of the year. The shares of Prospectiuni, which closed at 490 RON yesterday, are the second most expensive shares on the Stock Exchange, after those of Cocor Bucuresti, quoted at 510 RON/share. “In the coming period, the company’s value will rise. It is possible that its market value may exceed 500 million euros, double the current value, due to the economic performance of the company,” said Gubandru. The company conducts geological and geophysical works for discovering and expanding hydrocarbon deposits. The main factor expected to contribute to the expansion of the business, is the appreciation of international crude oil quotes. “The higher the price of a barrel of crude oil, the more interested companies become in the exploration and production segments, thus having a positive impact on our business,” explained Gubandru. He did not specify whether there had been any recent takeover offers for the company.