Hi there. I have an old Peugeot Country 100 bike, it looks like it dates to around 1996 from two catalogues (below).

http://bikeboompeugeot.com/Brochures%20UK/Peugeot%201996%20UK%20Brochure/Peugeot%201996%20UK%20Brochure%20Bikes%20Panel%20C.jpg 

http://bikeboompeugeot.com/Brochures%20France/Peugeot%201996%20France%20Brochure/Peugeot%201996%20France%20Brochure%20Pg41.jpg 

I'm thinking of making it my "project bike", and completely re-building it. Thinking of making it a winter commuter/tourer bike, i.e. wide tyres, racks, mud-guards.

Would you say that the frame is worth the effort? I find it hard to gauge if it's an old "quality" frame, or just an old frame that is not worth spending money building around it.

Many thanks for your help!

edit: I think it's more first catalogue than second actually. Here are some photos of the frame (paint chips, scratches, etc.): https://imgur.com/a/Pzrzx8a