Hate to disappoint you. It was me selling. I'm cutting my losses and moving on. The new presentation did it for me. I suggest you take a look. The 3D only spotted the one pool around Spring Hill, 1 or 2 sections in size. If you assume a moderate recovery based on the reserves in the press release and an average netback and then subtract Oxy's portion, there's not much upside especially when you consider they still have to operate the company and will continue to spend money on 3D and drilling.
Mike buys 15K shares yesterday and reported it the same day so he can release the press release today. I was wondering this morning when I check Canadian Insider why he did that. He never reported in the same day before. Think they found something?
Is it that Anschutz is leaving the Blackfoot reservation? (See FST.) Or that Mike bough another 10K shares yesterday? (See CI.) Or that it looks like the SAB hot spot on the Montana side might be south of PIE's acreage? (Also see FST.) Or that LGX found quite a few anomalies with their 3D seismic on the Blood Reservation on the Canadian side? (see press release on TMX.)
None of these tell you whether PIE is actually going to be able to produce economically viable oil before they run out of money. As each day goes by, I'm starting to have my doubts.