I know many longs have been killed by this ch11 speculation and stock crashing from 90 cents a couple week ago to low of 25 cents today. But we had a clear bounce off 25 cents , the previous low of last week, today agai which appears to be a classic double bottom.
I added some at 0.261-0.3..
Just call the IR and find out for yourselves; Also, management can't file bk protection even if they wanted to (but they don't) because no court will agree as they have cash on hand and they'll be sued to take hundreds of million in credit line and then file bk.
Actually the S&P report bodes well for the stock as if you read between the lines it is telling the market that BK is not in the cards.
I expect the shares to be back up from here.
Just bought 100,000 at 0.34 after seeing the article.
Agree; Even if you tried hard and despite oil prices you could not do a worse job; mind you the stock closed at ALL TIME LOW today; What ever the heck this management has up their sleeve they are completely hiding it from the shareholders; For god's sake why would a management take out such an additional huge loan and not mention anything about their intention if their had any good intentions?
Where have this management ever done anything to support the shareholders; it is obvious their don't care;
I say complaining is enough and the shareholders should hire legal counsel and demand answers as even their investor relation does not seem to care.
I beg you longs; Lets do something about this management.
I am a long time supporter of this company but have finally realized that this company's management don't give a hoot about the shareholders. Just try calling the INVESTOR RELATIONS and speak to LEE AHLSTROM and you will be very disappointed as he don't seem to care. SHEA BURDEN is even defensive and disrespectful while not even wanting to talk to you. As for the CEO don't even start me..
Listen LONG; I believe we've been trapped by this management; This latest taking out of nearly $350 million dollar in loans specially smells of not so good intentions.
I ask you longs: is there anything we can all do besides selling at steep losses; I really like to listen to any sound suggestions.
I am open to all ideas including hiring legal counsel if deemed feasible.
That is one not so funny mean game they are playing with PGN shareholders. My guess is that they realize PGN is #1 cheapest bargain in oil sector priced by error for BK before the latest earnings and other company actions it is made it obvious that the company will be just fine until at least 2019 no matter how low the oil price drops and even it lasts until 2019. Of course once oil stabilizes or rises watch out for PGN to zoom stock wise and revenue wise ...Otherwise the chances of BK for this company is pretty much ZERO. But manipulators are trying to shake and distress the shareholders and weak hands to sell.
HOLD on to your shares for the long haul as you are sitting on stocks with great potential of monthly income for you the shareholder in terms of dividends while you capital in terms of share price also goes up in near future.....
Shorts are nibbling out and NOBODY is selling. Did not add this morning but will if opportunity presents itself.
Sentiment: Strong Buy
The company proved it is solid and deserve better than just 52 mil market cap which is less than just this last quarters NET income of over 53 mil. Let me repeat...They have a NET income of over $53 million for a SINGLE latest Q but their market cap is only $52 million? OUTRAGEOUS but good work by shorts...Of course short now know it is time for short squeeze....