posted
This is a post buy lowfloatgoat on r/b he lost faith and sold a while back now he has just got back in and here is his reasons why he did.
Posted by: LowFloatGoat In reply to: None Date:12/14/2005 10:40:05 AM Post #of 6887
I bought back in this morning. The reasons I bought in today are: (1) PBLS has a known revenue stream from Sand/Gravel. (2) The acquisitions will provide revenue. (3) My opinion is that Progas is not making much in the way of profit even though they have a lot of revenue and this is why PBLS was able to buy it at an attractive price. However, I believe that PBLS will be able to use Progas assets and expertise to add value to both Progas and and PBLS oil/gas assets. (4) I am not seeing much volume on the sell side today. That might be an indication that the broker/dealer that was buying shares for the company, (or covering for a short), may be backing off. If PBLS was buying then I suspect they would stop before they issue news so that the price can run. If it was a short covering at the bid and they are done then the price can run now. (5) It took several minutes for my orders to fill at the ASK. One took 6 minutes to fill. Pinkies usually take a little longer to fill than BB stocks but usually fill in less than half that time. (6) PBLS has established a solid base at this level.
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I can't wait. this one is going to go nice. I have 111,000 plus shares at avg. .0218. I really don't get to much time to look into these stocks, but I got in when a friend who works on the NYC Mercantile suggested as a throw in and wait. Mad Money he calls it. I wish all luck.
If anyone has the time LiLpenny,bond006 I enjoy your post and use them since I don't have the time. Friend suggested PPTL also at.02 http://www.premiumpetroleum.com/growthstrategy.php Maybe you could get back. Thanks Matt NYC
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I have mis givings about this stock short term. It may be the acquisition is already factored in, but I believe it will go up some just from a confirmation.
The last pr said they wanted to start drilling on their new lease pretty quick. Once the drilling is announced and if they hit oil this will take off.
According to the pr (seems kinda high)a well close by produced 15000 barrels a day X 365 X 55$/barrell = 301 million dollars a year.
I think that could make the pps jump a little.
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quote:Originally posted by JohnnyRotten: I have mis givings about this stock short term. It may be the acquisition is already factored in, but I believe it will go up some just from a confirmation.
The last pr said they wanted to start drilling on their new lease pretty quick. Once the drilling is announced and if they hit oil this will take off.
According to the pr (seems kinda high)a well close by produced 15000 barrels a day X 365 X 55$/barrell = 301 million dollars a year.
I think that could make the pps jump a little.
JR...looking at your numbers and adjusting them some.....I think they become a little more realistic:
1000 bbls / day $40 / bbl (this is sour crude remember, which sells by as much as a $7 discount under West Texas Sweet)
1000 bbls/day * 365 days / year * $44 / bbl = $16 Million
Now on 7000+ acres, you can put about 1 well for every 20-50 acres which equals around 140 wells.
Now doing the math you get $2.2 BILLION.
-------------------- A good friend will bail you out of Jail. A great friend will be sitting next to you saying... Damn that was fun! :)
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