Because PTR remains 90% government owned, its floating market cap is ten percent of its total. On January 15, 2007, the company reported fourth quarter 2006 production highlights that demonstrated unequivocal growth in natural gas for the year.
Growth for the clean fuel ought to continue at a high rate from PTR’s domestic resources and from company participation in international production in Turkmenistan, for example. China, the world’s largest coal polluter, desperately needs a more desirable replacement. Carried at a full weight in the illustrative McDep energy portfolio, PTR stock reached estimated net present value [NPV] of $140 a share at year end before falling back at the start of 2007. By our correlation with thirty producers, there may be room for upward revision in NPV (see table below).