posted
I don't think you'll lose everything, just be down like 70 - 90% for years to come...
You can't short stock through traditional brokerages unless the stock is $5 and over and is NASDAQ/NYSE. I'd get into more details, but since you're a rookie, that's all you really need to know.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM! Posts: 6379 | From: PA | Registered: Dec 2004
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quote:Originally posted by Egg Inspector: so...how does one borrow a stock? is it a loan you qualify for? do you build up credit with a company where they allow you so much?
I would have no idea how to go out and 'borrow a stock'.
You need a Margin account through your broker!
Do you think Repo has a 70k + margin acct?
Do you think he would throw 70K into a pink on a hunch it would go down? LOL
A hunch??? That statement ALONE proves that you are an amateur with ZERO DD skills. YOU may throw money at stocks on hunches, I bet on sure things.
Rookie. Go back to paper trading or buying T-bills.
-------------------- Stick with Repo's plan in '07 - FRPT/DKAM! Posts: 6379 | From: PA | Registered: Dec 2004
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posted
I really don't know what repo would do.....Here's a story:
I have a friend who is worth $300M (inherited a construction company) one day we are driving out to see a property he bought, sight unseen, in his brand new Ford F250. We get there and on the side of the garage is a Mercedes Benz, a few years old at the time, but very nice, 500 series (I think). He sees it as we are leaving. He stops, looks at me and says "watch this"...
He backs up, guns the motor, and with a good 25yd run smashes his brand new Ford F250 into this Mercedes! Backs up, again, again. I'm speechless....He's laughin. F250 all crunched up....Mercedes is toast. He says to me "F***** rich B******, I always wanted to smash a Mercedes!"
"I have no idea what nutty rich people would do"
I know I wouldn't borrow 70K with that much risk. I almost couldn't stand having to get a 2nd on my house!
Posts: 1307 | From: Pittsburgh, PA | Registered: Jun 2006
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posted
Repo, no-thanks for the advise....I am an ameture, and I would never really need to know 'how' to short a stock cause I would never do it.
Your right, I have probably picked on hunches....I am now learning DD skills. I have done very well at everything I have ever set my mind to. If I choose to continue using these Msg boards as a resource, you will see a successful stock playing Egg in the near future (it just seems that these message boards are full of backbiting, smart asses always ready to abuse a fellow human being. just like the chat rooms years ago, and the H.S's Jr. High schools before that 'come to think of it')
Posts: 1307 | From: Pittsburgh, PA | Registered: Jun 2006
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quote:Originally posted by Egg Inspector: I really don't know what repo would do.....Here's a story:
I have a friend who is worth $300M (inherited a construction company) one day we are driving out to see a property he bought, sight unseen, in his brand new Ford F250. We get there and on the side of the garage is a Mercedes Benz, a few years old at the time, but very nice, 500 series (I think). He sees it as we are leaving. He stops, looks at me and says "watch this"...
He backs up, guns the motor, and with a good 25yd run smashes his brand new Ford F250 into this Mercedes! Backs up, again, again. I'm speechless....He's laughin. F250 all crunched up....Mercedes is toast. He says to me "F***** rich B******, I always wanted to smash a Mercedes!"
"I have no idea what nutty rich people would do"
I know I wouldn't borrow 70K with that much risk. I almost couldn't stand having to get a 2nd on my house!
posted
I am here to think, absorb, and grow rich. I do not need to feed my ego by trouncing others....or proving my superiority by pointing out negative details in others.
That has never been me.
Posts: 1307 | From: Pittsburgh, PA | Registered: Jun 2006
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posted
true story tex...the Mercedez was left with the house, but he didn't really know that at the time. You should have seen the look on his face when I asked him "whose car is that?"......LOL
Posts: 1307 | From: Pittsburgh, PA | Registered: Jun 2006
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posted
The Gustavson report was only partial... everyone already paniced thinking that was it. A full report would only add more to it. There are a few positive things to look forward too. The only thing is, do the positives outweigh the negatives....
quote:Originally posted by pennyman33: Do you think if we keep holding we are going to lose our entire investment in this company.. I mean everyday it keeps going down. They make promises but only do bland pr's at best.. everyone has to have a limit on how much loss they can take. IF it keeps dropping we are going to need a 300 percent rise just to break even.. It seems they have told no one if they have any upcoming good news. THE q2 will make things worse. Because their income is real low. I am trying to find something positve about this company but I can't seem to see anything good in the future.. I don't see how they could get off the pinks in their current state.. They still have not told us the full Gustavson report results.. IT makes me think its bad so they won't release it.. In my opinion if they are really trying to get off the pinks they would be doing more to get the share price up.. Instead its dropping lower everyday. I guess there are very few investors that trust them..
-------------------- "Money, so they say Is the root of all evil today." Posts: 228 | From: NE, PA | Registered: Mar 2006
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posted
Sigma, who knows. There are HUNDREDS of little workover companies here in Okla. My guess is there are a gazillion in Texas!! The competition is fierce.Pinedos statement it would save them substantial money doesnt wash. Only a handful of wells,not much to save. As for Fast Eddies 150 bbls/day, thats 54,000 bbls/year. Thats 10X what they produced last year by my calcs using RR commission records.And their financials sure dont show it.He was telling callers on another board 20 million bbls...last year!!!!lmao.
-------------------- It takes a lot of attaboys to make up for an aww chit Posts: 483 | From: OK | Registered: Aug 2005
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posted
Oildog, I have made this offer before. I live near PGPM HQ...
I can go there and ask questions, take pix, etc--am an ex reporter. Have done technical documentation for ARCO and founded a statewide land use journal, so I know a lil bit about geology. You seem to have a grasp on oilfield workings--feed me some good questions, and I'll visit the company...
posted
Thanks Tex. Well I'd REALLY like to see pics of their $3900/year office!!!! Outhouse or storage shed!! And: 1)Are their acquisitions simple working interest buyin or include farmout(right to drill)? 2)how many actual producing wells do they have. (Can check RR Commission production figures.) 3)What is their working interest in the upcoming Barnett Shale purchase,and are they going to participate in new wells with who? 4)They've stated in PRs last year they acquired equipment with their leases,including a rig, why did they "need" to buy a workover co?Are they an oil company or a service co? 5)Whose brain fart was the "financial ratios" PR? j/k 6)Who owns the majority working interest in the Wichita county properties? 7) On their "expertise", do they have a staff geologist or petroleum engineer?(know the answer to that one!) 8)Will they pay for seismic on the Wichita leases to locate a target to drill or.....? Can think of more but since they arent drilling anything,never drilled any wells,ect, dont see the point. Oh yea, what country are Pinedo and his bunch from? Would like to go with you and get a "gut"feel about this bunch,but,work pretty much 24/7 on this well. Bad enough to have a 270 mi r/t to go home a couple days a week.
-------------------- It takes a lot of attaboys to make up for an aww chit Posts: 483 | From: OK | Registered: Aug 2005
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June 02, 2006 11:51:00 AM ET Pilgrim Petroleum is Pleased to Announce Record in Current Financial RatiosadvertisementRelated information E-mail this article Print-friendly versionStocks mentioned in this articlePILGRIM PETROLEUM CORP(PGPM) Quote, Chart, News Related topicsEarnings Reports
All Business Wire NewsPilgrim Petroleum (Pink Sheets:PGPM) is pleased to announce record in current Financial Ratios as of May 31, 2006:
Related newsPilgrim Petroleum Completes Acquisition of Daniels Well ServicePilgrim Petroleum to Acquire Well Service ProviderPilgrim Petroleum in Negotiations to Acquire Production and Acreage in the Texas Barnett ShalePilgrim Petroleum Corporation Announced Today an Explanation of the Previous May 1st Press ReleaseTake-Two Shares Plunge on Profit Report -- Net Profit Margin = 25.64%. It means that for each dollar of sales that Pilgrim generates, it is contributing 25 cents to its bottom line (net income). It reveals how Pilgrim's management controls the cost structure of the firm.
-- ROA = Net Profit after tax/total assets = 24.63%. Indeed, well above average, earning almost 25% on our asset investment.
-- ROE = Net Profit after tax/Stockholder's equity = 25.35% growing ROE or ROI. Pilgrim is striving to payoff its investors! This financial ratio tells the rate that shareholders are earning on their shares. (Generally, companies that generate high return relative to their shareholder's equity are companies that pay their shareholders off substantially, creating significant assets for each dollar invested. These businesses are more than likely self-funding companies that require no additional debt or equity investments.)
Pilgrim Petroleum's goal is to keep improving these ratios, not only will new leases contribute to an immediate increase of revenues as well as the overall production levels, but also the recent contract with Basic Energy and JAR will boost the production expectations. Here are some additional highlights:
1) 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.
Rafael Pinedo, President and CEO of Pilgrim Petroleum Corporation, commented, "Pilgrim Petroleum is growing exponentially in a very short time; the results for this coming quarter will be the best ever for the company. Our focus is not only to increasing profitability, but also achieving long-term sustainability."
About Pilgrim Petroleum Corporation
Headquartered in Irving, Texas, Pilgrim Petroleum Corporation is an independent oil and gas company. The company is acquiring oil and gas leases, producing properties, mineral rights, and surface interests primary on marginal fields. Once acquired, the company intends to redevelop each property to maximize the income from each property by refurbishing and improving the existing production.
Forward-Looking Statements: The statements which are not historical facts contained in this release are forward-looking statements that involve risks and uncertainties, including but not limited to, the effect of economic conditions, the impact of competition, the results of financing efforts, changes in consumers' preferences and trends. The words "estimate," "possible," and "seeking" and similar expressions identify forward-looking statements, which speak only to the date the statement was made. The Company undertakes no obligation to publicly update or revise any forward-looking statements, because of new information, future events, or otherwise. Future events and actual results may differ materially from those set forth herein, contemplated by, or underlying the forward-looking statements.
2006 Pilgrim Petroleum Corporation. The information herein is subject to change without notice. Pilgrim Petroleum Corporation shall not be liable for technical or editorial errors or omissions contained herein.
Contact Information: Pilgrim Petroleum Corporation Eddie Monet, 619-864-0166 www.apetroleum.com
June 02, 2006 11:07:00 AM ET Pilgrim Petroleum in Negotiations to Acquire Production and Acreage in the Texas Barnett ShaleadvertisementRelated information E-mail this article Print-friendly versionStocks mentioned in this articlePILGRIM PETROLEUM CORP(PGPM) Quote, Chart, News
All Business Wire NewsPilgrim Petroleum Corporation (Pink Sheets:PGPM), an independent oil and gas company, announced today negotiations to acquire production and acreage of approximately 7300 total acres in Johnson and Wise county in the Texas Barnett Shale, the best play in the country. This property has a history of great production and existing conventional well bores available for reentry; Pilgrim Petroleum will focus on refitting the properties with additional horizontal and directional wells. Some seismic data is available with this acquisition, which will facilitate a reserve report. A final agreement is expected to be completed in the next few weeks.
Related newsPilgrim Petroleum Completes Acquisition of Daniels Well ServicePilgrim Petroleum to Acquire Well Service ProviderPilgrim Petroleum is Pleased to Announce Record in Current Financial RatiosPilgrim Petroleum Corporation Announced Today an Explanation of the Previous May 1st Press ReleasePilgrim Petroleum Corporation Announced Today Financial Analysis and Considerations Stephen Richardson, Pilgrim Petroleum Vice-President, said, "Each acquisition builds our natural energy reserve base. We will continue to acquire properties and bring our wells on line throughout 2006 in order to increase our residual revenue."
About Pilgrim Petroleum Corporation.
Headquartered in Irving, Texas, Pilgrim Petroleum Corporation is a publicly traded company (Pink Sheets:PGPM). The company is acquiring oil and gas leases, producing properties, mineral rights, and surface interests in Texas. Once acquired, the company intends to develop each property to maximize the income from each property by refurbishing and improving the existing production.
Posts: 1307 | From: Pittsburgh, PA | Registered: Jun 2006
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Pilgrim Petroleum Corporation Announced Today an Explanation of the Previous May 1st Press ReleaseadvertisementRelated information E-mail this article Print-friendly versionStocks mentioned in this articlePILGRIM PETROLEUM CORP(PGPM) Quote, Chart, News
June 01, 2006 09:21:00 AM ET All Business Wire NewsPilgrim Petroleum Corporation (Pink Sheets:PGPM) announced today an explanation of the previous May 1st Press Release. After thorough research, Potential Oil Resources calculations without taking some factors like porosity, etc., into account can produce high estimate reserves due to inconsistencies in the volumetric calculations. Further definition between the methods used requires determining factors with inherent uncertainties by themselves and even more when they are combined. As commented SCA Geologic (2003), "over the past 25 years significant errors haven been present in reserve calculations as a result of using the wrong thickness value to determine the reservoir quality sand or to prepare net pay maps for volumetric calculations. Errors of 20 to 30 percent are not uncommon, but on occasion errors of up to 700 percent have been documented." Under this premise Pilgrim Petroleum decided to obtain a 3rd party opinion as a part of the pre-valuation stage in order to make wise capital outlays. Before anything, the company needs measures with less uncertain methodology. Gustavson preliminary report provides a reviewed, more thorough and conservative identification of the company's current assets value and resource estimates. This report did not cover our latest acquisition of production and acreage from last week or other acquisitions to be closed in a week. Neither report will include any marginal existing production or take into consideration a significant amount of processing equipment already in place. After all the complete report from Gustavson will be done in weeks, we are confident that this final number of Potential Resources will be significantly higher.
Related newsPilgrim Petroleum Completes Acquisition of Daniels Well ServicePilgrim Petroleum to Acquire Well Service ProviderPilgrim Petroleum is Pleased to Announce Record in Current Financial RatiosPilgrim Petroleum in Negotiations to Acquire Production and Acreage in the Texas Barnett ShalePilgrim Petroleum Corporation Announced Today Financial Analysis and Considerations Rafael Pinedo, CEO of Pilgrim Petroleum Corporation, commented, "Lessons Learned. As we grow, we exponentially encounter challenges that we need to offset through accurate operational management. Our commitment to the company and our shareholders is our driving force, we are very confident on the final results."
Posts: 1307 | From: Pittsburgh, PA | Registered: Jun 2006
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I have wondered about you: because of our stature as a premium board, we often have scamsters who try to infiltrate. There are some on-board, now... One tactic is to "pretend newbiness."
Another thing scam-dawgs do is use multi-aliases, sometimes creating them and then shelving them for retrieval later, so the nick doesn't look so new...
However, you---lol, you're about to convince me you actually are a newbie. I haven't seen so much stumbling about since *I* joined, lol...
Case in point: have you read the thread? A few traders have been tracking this since *before* the PR that launched the 1,000% day. Since then, it's been under constant watch for another "miracle." Does it seem likely these PRs would really be revelations?
I am trying to fool no one. I am who I am. I have told my story...you know it. I am the honest, smart, intelligent egg with all the Jonny-on-the-spot insight!
" do I look that stupid?"
Posts: 1307 | From: Pittsburgh, PA | Registered: Jun 2006
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Like; "hey this guy IS trying. He reads. He researches" maybe it's my way of trying to participate...............be relevant........ prove a newB can figure this game out and MAKE MONEY!
I am here now for 1 reason...well 2 reasons. I have 2 daughters, straight A students, who deserve better than Community College. then they'll be wedding bells......I blew it over the last few years. I had it pretty well together up until 35yrs, then I had a ....well........MELTDOWN! I am just trying to get back on top. I aint trying to mess with anyone....that has been the worst part of this experience. I don't go aftger people in general, in my life. I truly live the 'live and let live philosophy. after a few post here....I was under ATTACK! mortars, small arms fire....and the IED's, at every turn. I usually would have walked away saying "I'm not wasting my time on these idiots" but there have been a few like 10of13, steam ahead, you... enough that I see the potential of sharing info and learning from others... enough of tyhis elf-seving sermon....
Billy-OUT!
Posts: 1307 | From: Pittsburgh, PA | Registered: Jun 2006
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