book, PE, etc have different meanings for oil trusts. When you're done pumping the oil out all you have is a hole in the ground. Buying a trust that's going for book would be pointless. I'm sure I'll get the usual 42 humbs down for this post, but no thoughtful replies.
That was a bit of a surprise. Maybe....If LNG export terminals and pipelines to 'em get built and the price increases, maybe if the discount for their product increases, maybe a lot of things that are just maybes at this point happen they'll be a good buy. Selling off income producing assets to pay a dividend doesn't seem like the way to go.
I have gotten burned several times with stocks that had this same nosedive pattern. I am out with quite a large loss. Was 5% of my portfolio 2 years ago. My other disastrous purchases were in businesses that eventually went bankrupt. The financials do not look good and may in fact indicate this business is unsustainable. The cost of getting product to market in PGHs remote holdings just does not make it competitive with Stateside competitors. It is never a good idea to try to catch a falling knife. Good luck, but I am afraid that the "trend is not your friend" here.