PGH management, You are complete FOOLS and have no interest in shareholders
With our share price in the mud, and your salaries in the clouds, you telling us the CO. is in good shape with a bright furture, you are complete FOOLS and IDIOT'S for not having a share buy back program. You have no interest in shareholders or the share price, and are nothing more than arrogant liar's. I pray for the day jail doors slam on your #$%$.
No they are not fools, they must be under pressure from some large institutional investor, such as, a pension fund or such to maintain the 4 cents or else. By the way for the technical guys, do we have a pennant pattern.
Sharp Move: To be considered a continuation pattern, there should be evidence of a prior trend. Flags and pennants require evidence of a sharp advance or decline on heavy volume. These moves usually occur on heavy volume and can contain gaps. This move usually represents the first leg of a significant advance or decline and the flag/pennant is merely a pause.
management know for a fact that a share buy-back would greatly increase the pps, so ask yourself a question, why don't they want that to happen. Simple, PGH is for sell, and management wants out of the blame for destroying shareholders in the end.
Nevertheless, what would be a problem with selling the company? I would be happy. We all know that the assets changing hand are worth and can be sold at about 20 usd per BOE. Now, we have a NAV which compares to 6 usd per BOE. Selling the company at usual prices per BOE would bring 3 times actual PPS. I wouldn't have a problem with this scenario......