Hey jones, if you shorted at 29 and are still holding that short then good for you. The reality though is that production is now ramping up quickly. Buying the stock at 2.35 has nothing to do with whether it was a good pick years ago. I certainly wasn't a buyer back then and don't really care about ancient history. Better look at the wells they will be drilling and production they will be adding in the near term, not what happened years ago.
MEDA looks poised to rally strong after big TencentWeibo announcement. Traders upbeat about new price targets and show interest at $2.00
Hey casey boy...Do you want to know who is really damaging this stock? Try the management !!!
$29.00/ to $2.00 Are you still predicting 10,000BPD? Or did someone (in management) tell you to remove your post? LOL
Peru GDP Slowdown Derails Confidence Vote for Humala Cabinet
By John Quigley Aug 21, 2014 1:32 PM ET -- Bloomberg
Peruvian President Ollanta Humala’s sixth cabinet in three years failed to obtain a vote of confidence from Congress as lawmakers blamed his government for failing to revive a slowing economy.
The majority of the lawmakers abstained from voting on the issue and a second vote will be held at 9 a.m. Lima time tomorrow, according to a statement on Congress’ website. The entire cabinet will have to resign should it fail to win the backing of Congress tomorrow.
The vote comes at a time when the government seeks Congress’ support for measures to reactivate an economy that grew 0.3 percent in June from the year earlier, the weakest expansion in almost five years.
“It’s this government, not the opposition, that has changed the cabinet every six months,” Juan Jose Diaz, a lawmaker from the main opposition party Fuerza Popular, said during the debate that preceded this morning’s vote. “This is one of the reasons why Peru finds itself in a process of clear deceleration.”..
Thanks casey. The shorts here try to smear the company by posting stuff that is either false or irrelevant about the Shining Path, Dolphins, routine shelf filings, routine SEC disclosures or what BPZ did several years ago. Then when you rebut it by posting facts, they have the nerve to call it pumping - LOL. Of course these guys are either short or (lower still) paid by shorts to post. They would be much more credible if they just admitted that they are shorts as of course I disclose I'm long.
He is not pumping the stock, he is just stating positive facts which are in line with everything I have researched. What I would like to know is why you are trying to damage the stock if you have no skin in the game.
Sentiment: Strong Buy
I like PRE as a driller, but I own BPZ to get the assets at a far lower cost. How is it spinning the truth to say that PRE is the operator of the wells and has a great track record as a driller? Those are facts. Please keep denying those facts and short more. I'm buying more at these levels. We'll see who's right.
They just gave an update on production at Enercon a couple of days ago. One of the wells has already been fixed. A18D is being sidetracked now and that was a 1000 bopd well, plus they are adding a new zone. Keep shorting it and we'll see about production.
You two are PATHETIC pumpers and spinners of the truth. If you are in love with PR, then buy PR, but if you were dumm enough to ignore the past and buy this company, don't give it a "Strong Buy", just because misery loves company...very disingenuous !!!
I was in BPZ years ago, made money on the major run up. Agree on PRE making this easier to buy.
Go Miami Dolphins, LOL!
Sentiment: Strong Buy
I wouldn't be in this stock without Pacific Rubiales. There is a lot of potential for block Z with them running the drilling program. I was impressed at how quickly they are addressing the water and gas intrusion issues. Lots of other areas to be drilled besides Corvina & Albacora. Good discussion in the presentation.
Pacific Rubiales is a public company listed on the Toronto and Colombian stock exchanges. The Company is the largest independent oil and gas exploration and production company in Colombia. Pacific Rubiales owns 100% of Pacific Stratus and Meta Petroleum Limited, two Colombian oil & gas operators which operate and own interests in, amongst others, the Rubiales and Piriri oil fields in Colombia’s Llanos Basin and the La Creciente natural gas field in northern Colombia.
The Company is focused on identifying growth opportunities in almost all the hydrocarbon basins in Colombia, as well as in eastern Peru, and Guatemala. The Company has a strong and growing reserve base, and is maximizing future production prospects through its exploration activities.
Pacific Rubiales aims to be the premier independent E&P company in Latin America. The major strategic focus of the Company is sustainable growth. The Company is able to achieve this growth by combining the expertise and talents of its people with a high-quality portfolio of assets to support further sustainable, responsible and
profitable creation of value.
BPZ partnered with a strong company to develop their assets.
Sentiment: Strong Buy
"...Wearing military fatigues and combat boots, Antonio Fernandez, Peru’s top prosecutor for environmental crimes, watched the mining camp burn. This ghostly moonscape of dead stumps and contaminated pits was primary forest just six months ago, he said.
“These people have done extraordinary damage,” said Fernandez. “We have to respond with the same amount of force.”
After years of ignoring the frantic gold rush fouling the Amazon forests of southeastern Peru’s Madre de Dios region, the government has launched a no-mercy campaign to crush it.
Since April, it has sent police and soldiers on dozens of helicopter raids, swooping down to blow up equipment and burn mining camps. It has cut fuel supplies to Madre de Dios in an attempt to choke off the miners’ generators, motorbikes and diesel engines, saying per capita fuel consumption in the region is 10 times the national average because their machinery runs round-the-clock.
The goal isn’t to bend the miners into legal compliance. It is to drive them out of the jungle entirely. “They don’t belong here,” Fernandez said. “They should go home.”
As many as 40,000 illegal miners — mostly poor, Quechua-speaking laborers from Peru’s Andean highlands — have invaded some of the most pristine and biologically rich sections of ancient forest in the Amazon basin...."
"...According to official figures, roughly one third of the country's population lives below the poverty line, and chronic infant malnutrition still affects between 20 and 30 percent of the population. Lima business and political elites have reaped the benefits of the national mining boom while other regions of the country - especially the rural and mining areas - face not only endemic poverty but also environmental damage, which further endangers local livelihoods. Now the government risks exacerbating the social divide even further by reducing environmental safeguards protecting communities from the effects of mining.
The new law
The new law aims to increase investment by limiting the capabilities of the six-year-old ministry of environment, among other measures. As a result, the environment ministry's Body for Assessment and Audit (OEFA) will not be able to penalise companies for breaching some environmental safeguards for three years, unless circumstances are exceptional....."
-- Vladimir Gil Ramon