greetings. i am a meticulous debt trader. i have tracked PGH on and off since 2007 or so. i have not really looked at them for quite sometime recently.
i generally 90% of the time never look at equity investments but this is ridiculous trading in the $4's right now. if you look at their balance sheet, they have a low amount of debt as opposed to other folks in this business, they huge market equity capitilization, etc.
at face value, the only single thing that this continuous lower lows on price action is telling me is that the dividend is not sustainable and a cut would possibly be in the pipe down the road. i would really be curious to hear form folks in the know here or are intimately familiair with their earnings, cash flow, the realistic completion date for the thermal project.
also why did other competitors like ERF reverse their stock price downtrend (btw ERF has allot more debt than PGH). ERF bounced firmly off the $11's while PGH just kept going straight down.
From what I've been reading, the problem is that they can't get their product to the markets. They were counting on the Keystone pipeline. But now with Kerry and Obama making the final decisions, the outlook looks grim. The Obama administration cannot politically put down its base of leftist "climate change" crusaders. The Canadian government needs to get off its as# and build a pipeline to the coast for export to Asia.
PWE has the same problem.
At $4 take a small position it's worth the risk.. Buy it while things appear to be grim.. a pipeline will be built with or without the US.. Canada will not wait much longer they know they have a very valuable commodity..
i am not actually looking for someone to do my DD. i am perfectly capable of clicking "info" i am looking for insight from folks who follow this stock/story day in and day out. when you have a certain level of familiarity like that, it transcends merely looking at financial numbers. it gives you a much bigger picture of the future horizon and prospects.
Good Question? A fall from grace. If the Linburgh project is a sucess and people start fracking with steam maybe this will be a dif story. This company had been through far worse in 08. I did notice Motley Fool Arrived to comment. Most of their thoughts are precicely opposite what will really happen. They usually pump and short. See CYTR over the last few years reverse splits, mergers, you name it. CYTR dipped all the way to about .30 cents a share and reverse mergered it back up to 3-4 dollar area. The short pos here sure should be happy. They have had a field day.