posted
To me it looks like PGPM is just trying to add value without drilling yet.
Alhtough to me potential oil isn't worth as much as recovered oil, I can only suspect that PGPM will try to add more value to their holdings and look for an investor willing to plunk down some cash to make it all happen..
I thought some of their claims were proven oil producers...At least that is how Gustavson makes it sound.
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posted
I should have sold at .20, oh well papa's got a brand new bag I'm afriad.
The more I play these pennies the more I realize that you can only make big bucks when you buy a penny stock BEFORE the MM's catch on. That happend to this stock once and it won't happen again. I expect it to hang around these levels for a while. I hope I am wrong, and it goes up. Good luck.
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quote:Originally posted by crappybob: I should have sold at .20, oh well papa's got a brand new bag I'm afriad.
The more I play these pennies the more I realize that you can only make big bucks when you buy a penny stock BEFORE the MM's catch on. That happend to this stock once and it won't happen again. I expect it to hang around these levels for a while. I hope I am wrong, and it goes up. Good luck.
Finally Crappybob, you have learned the secret to profiting off MOMO pinks.
Good job.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM!
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posted
Read yesterday where Chesapeake Energy is buying 39000 acres of leases in Barnett Shale in same area PGPM is "negotiating". Their paying $845 million which would be $21,666 per acre. Based on their total revenues,PGPM could get,oh, maybe 10 acres.
-------------------- It takes a lot of attaboys to make up for an aww chit
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posted
Jesus Christ, that land is now worth over $20,000/acre? I remember when it was a big deal it broke $2,500 then $5,000 then $10,000.
Who needs pennies, I should have bought land in Wise or Denton County. That land has probably gone up 10,000% in the past 10 years. It wasn't that long ago land was priced in the hundreds, rather than the tens of thousands.
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Leases,Sigma. Pretty incredible. Wish my wifes farm (160 acre inheritance) was down there. Over $3 mil for a quarter section of oil/gas leases!!I could handle it!!!! Cant remember exactly,off hand, but Chesapeake earlier bought 9-13 million acres in Appalachian Mountains for a billion or so(maybe 2 bil). Pretty striking difference. 5 years ago,with a trunk full of cash,a smile and firm handshake,you could be a billionare now!!!
-------------------- It takes a lot of attaboys to make up for an aww chit
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posted
Years ago,in the 1980 boom,I "knew" a doctor in Elk City,OK,where I lived, that drove around in a pickup,loaded down with cases of whiskey, champagne,and suitcases full of money. Had his lawyer in tow. Had been there forever,family practioner,knew everybody,delivered a lot of their kids. Drove around buying royalty or leases if available. Deals done at the kitchen table,out in the barn,in the field next to the tractor,papers signed and money paid... on the spot.He was already a millionare,died about '85 worth over 600 mil.
-------------------- It takes a lot of attaboys to make up for an aww chit
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posted
did another 2 million shares just get dumped after hours again!! Bad time to do dilution when stock is aready so low.. 0.062 2,195,153 at 4:06
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posted
I have emailed him several times and he always answered.. But when I asked about that first big block that when through (i sent a L2 for proof) he didnt reply.. More investors emailed him about it also and he did NOT reply.. SO yes it looks like dilution.. This guy releases pr's but it does not help since no one trusts the company any more. At best that causes the stock to rise to 0.09 or 0.10 then it tanks again.. This is just wasting money on pr's.. I dont think the q2 release will help because they don't have much income.. IT looks more and more like this is just a 0.02 cent company at best.. And the share price is getting closer to it everyday.. I think thats why they are diluting now.. because the share price is as high as its going to get.. IF not, why not wait until next week or a month when the pps is much higher.. I honestly think very few investors trust this company any more.. I emailed him several times and the replies I have got back make no sense.. I am not sure I am even getting replies from a real person..
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posted
That might be what the mid week pr is about.. they annouce dilution for more investment capital. HE said great news but for who. US or them.. I don't think I would even bother to check the ticker after that..
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posted
Dilluting would not make sense with the statements from the last PR!
) Increase on financial ratios over 300% comparing with the figure from six months ago, from negative to positive ratios.
2) We have no debt. Our obligations, are solely to our stockholders.
3) Estimated substantial revenues from new development of reserves
4) Short and Mid term Growth Strategy through new acquisitions
5) Plans to venture with peer companies to acquire working interest in attractive new prospects. This way, Pilgrim will be able to reduce the risk of exploration projects while increasing new sources of revenue.
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posted
I know it does not make sense. But with this CEO you never know what he would do.. The only thing that makes sense is if he thought the stock price was going much lower and it would be a good time to dilute now and get more $$$. Because 0.062 seems low now but in a week or two it might look very good when we are looking at 0.001. I mean they have information we don't have access too. Why would they dilute now if they thought the PPS was going up soon. They wouldn't because They could make alot more cash then.. It makes me think is this company going to triple zero's again. They have no debt but they have no revenue either. Their reserves are nowhere near we thought. The oil they do have is very expensive to extract. The more research the worse the company looks to me. The CEO told me himself in a email (if that was actually him)they were not concerned with the share price. I thought why even bother with pr's then unless they are trying to suck more investors in. I don't understand why they state "our obligations,are solely to our stockholders." Unless I do not understand that statement. because I think that means they are concerned about the share price. But going by their actions it is not. Look it went from .149 down to .072 with good news. Now the dilution.. What is a investor supposed to think after what they have did in the past week. "Estimated substantial revenues from new development of reserves" I am very afriad of their estimations. Look where that 900 million barrels of oil went. Maybe this week they will address the dilution issue in a pr. I sure hope they have one hell of a pr. Because we are going to need it to get back to where this stock was a week ago.
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and still nothing on the Gustavson website??? I emailed them about the estimate but not receiving any responses. Has anyone else attempted to get in touch with Gustavson themselves about their estimate?
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When they start bringing wells online and creating more revenue,become fully reporting [as stated in a recent pr ], and post finacials this IMO will be a very good investment.
I have a modest position, and have loaded up at .075 again. I like the fact that they have no debt currently. There are so many small caps that have more debt than the companys actually worth.
If they are commmited to the investor, and not worried about the share price, then i take that as the share price will take care of itself when production comes online.
Everyone has to make there own decision here. I will be sticking around to see the progression over the next several weeks.
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posted
Sarge,you wont get anything out of Gustavson. They are working for PGPM,private report,not public unless PGPM wants to release it. Not their responsibility. Since the majority of their wells are plugged and abandoned (Gustavsons report), I dont expect them to bring any online. They'll have to locate some targets, and DRILL. They are a minority (20%) owner with someone else. The majority owner(s) may not want to drill,in which case PGPM would have to force pool them, and incur all the upfront costs themselves,as well as the risk. I dont see them doing that.20% participation in a $1 million well ($200,000) is one thing, springing for the whole 1 mil is another.Given their history,phony PR "reserves",weird "% growth" PRs,ect, IF they say their going to drill, I'd want the Texas permit number,exact lease legal description, who the drilling contractor is, ect. As for debt,who knows. Their unaudited financials dont show any, but given their relationship with Eddie Monet (American Crapital Investments),I suspect shares (cds or warrants) are involved,and.....that might be bad.JMHO (im humble again)
-------------------- It takes a lot of attaboys to make up for an aww chit
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posted
We all know OTC stocks don't trade after hours, if a block of 2 million shares went through would the ask be .09 as it is this morning? I went to time and sales reports for yesterday and there was no trade listed during trading or during after hours for .62 or whatever has been reported. I have watched this stock run from .01 to .28, then recently run from .06 to .14, we have strong support at .07 now, with a PR we are good for at least 30% today.
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Time & Sales Price Size Exch Time 0.062 2195153 OTO 06/06 0.072 5834 OTO 06/06 0.0725 5834 OTO 06/06 0.072 5000 OTO 06/06 0.075 6666 OTO 06/06
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posted
I went to yahoo and it doesn't show that at all. There was a trade for .008 but that was obviosly false too, my point, if someone dumped over 2 million shares the price should have dropped a good bit, we are sitting at .07 and .09 this morning.
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posted
I hope so. It started higher yesterday too and look what happened.. I think they are playing games with us. I believe they have no debt but I do not believe They will have any income worth noting either. The other few prs caused a brief raise in price then it tanked back down to .075 or so. I expect the same today.. It might hit .11 before dropping back down to 0.08 or less. It looks like we are stuck.. I do not see use getting back to where we were last week. I can't think of anything they could tell us that would cause the price to rise that much.. I think the market has set a new price for this stock and its 0.7-0.08 If we are lucky.. We may loose support there. Those who bought in higher like me have lost.. We overpaid and baring a miracle will not get back the money we invested. I know they promised a few more pr's but we are in one hell of a hole. I think the uncoming prs are just basic as best.. I can understand why some people have got mad and shorted this stock.. Their incompetence is very frustrating. I don't believe its being shorted to death however. Because right now the pps is so low it is not worth shorting..
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