Don't fret; there's always bankruptcy. But first be sure to run up all your revolving credit before you file. Then blame it on Wall Street monsters and go on welfare and get free obamacare. Better yet, go to Mexico and come across as an illegal with kids and you're set for life; you don't even need car insurance and if you get nailed for a DUI you don't have to even go to court! See? All good!
Worst stock trade I have made in 30 years. Great job PGN!
I would certainly tend to agree, but to blatantly make that claim is opening one up to legal action? Unbelievable
Wrong. This is a $3 stock after the upcoming distribution cut. $1 if it's a complete suspension of the distribution. Regardless, the stock will certainly NEVER see $20 ever again.
God you're a moron. LINE will NEVER see 50, 40, 30 or even 20 EVER AGAIN! Or even $18 for that matter. Christ; allegedly even management has expressed doubts about the chances of the company surviving with prolonged oil pricing at current levels; if poster s.eranger is telling the truth about his/her conversations with the CFO.
Posted by user s.eranger earlier today on a different thread. Claims he(she?) speaks to the CFO often. Don't know if he is blowing smoke or actually is truthful. Sure would explain a lot of the destruction of the unit price. If the management is that sour on the possible death of the company then get the hell out!
If oil remains at current pricing? I forget who posted here today that they had a conversation with the CFO and allegedly was told this. If true then no wonder everyone is bailing out! Geez!
Yeah maybe on bizarro world. You're in denial if you think this recent collapse isn't a precursor to either another hefty distribution cut or an outright elimination. These guys are hurting badly and the street knows it. LINE silence only bolsters the fact that they are scared to death as the ship sinks.
Distribution suspension now at 85%. They are hurting badly. The debt for equity swap; mere weeks after Ellis stated they wouldn't do such a thing, has been interpreted by the markets as an act of desperation. The distribution WILL BE ELIMINATED in my opinion. They are fighting for their lives. Yes I've spouted this off many times before, but once again I called it dead on; LINE with an 8 handle by end of June. For all the bashing I get, I sure seem to be the one making the accurate predictions. Morons.
In fact, they appear to completely shun the shareholders (probably sitting in their offices laughing at us for being such suckers) and spit on us at every turn. What comes around goes around.
Ellis and his gang have much to answer for here.
For management to be drawing salaries that are 6-7% of the entire market cap is A GROSS BREACH OF FIDUCIARY RESPONSIBILITY TO SHAREHOLDERS. Petition and vote to eliminate PGN executive salaries. Rally at the HQ offices and take back the company.