Down 70% in September, down 16 of the last 17 sessions except 9/11!!, ALL as a result of the actions by PGN's incompetent and careless management (oil prices have been stable this month) ...Obviously the last thing they care about is the shareholders. They have taken many steps to destroy the shareholders while not taking a single styep to at least cover up the fact that they don't give a hoot about us. This management is right at out face telling us go f yourselves ...I hold my head and say what did we ever do to them to deserve such content except pouring our hard earned money into their company and support them. How can this management live with themselves and look themselves in the mirror; Only if they knew what hurt and damage they've caused.
They've done many things to hurt the shareholders (the proof of which is share down 70% since beginning of the month) while doing NOTHING, ZILTH, NOTTA, ZERO, and absolutely nothing to help us. Where is the fairness and their fiduciary to shareholders in all this. This management is really destroyed many many shareholders and ruined their savings. And now their use the same shareholders money to hire two law firms to cover up so they can defend against our upcoming lawsuit. What a pitiful and unjust management.
What a pitiful performance. Since closing @ 90 cents on August 31st we've been down nearly 70% just since beginning of this month, and since this "smart" management began trying to "fix" things, on top of having been down 93% over the previous 12 months. This management has been the #1 enemy of shareholders and this stock. Oil prices have actually been for the most part stable to positive this month and PGN is down 70%. Wow.
Isn't this management supposed to look out for the shareholders?
I am joining the lawsuit.
with little more than one hour left in trading volume is barely above 1 million . with average daily of near 1.8 million. No body rushing out the door despite all the speculations.
For god's sake have some mercy on your shareholders; you have not done anything for them; every step you've taken is been to their detriment. Please for once take a very small step to help your shareholders; Just one time. Please.
It appears you've implied to anyone calling you today that bk in not your intention and what you plan at all; At lease do a one liner press release to that effect or stop stringing people along.
Just the fact that the lenders allowed them to tap into their credit line to the tune of $332 cool mils tells me that at least from the lenders perspective they are credit worthy and that if they had to show a plan of action as to what they intend to do with the money that the lenders like it.
My gut feeling tells me one should probably buy here and before the news is out that they are buying back their debt or shares or another company on the cheap, etc.
Actually PGN has much more cash and much less debt than DO....If DO cap is 3.3B then PGN rightly deserves to have a higher cap. Also remember with the prospectus deal that PGN will now be financially sustainable no matter how low the oil goes well passed 2019.
I see PGN a five bagger from here and within the next 12 months easy but won't be surprised if it is a 10 bagger. Remember even at 10 times current price it will still be well under 10 bucks whereas it was over 17 bucks just a year ago.
Obviously PGN is going to be on the list of survivors of this oil bust. I have been adding to my shares and plan to hold on to all of them for the long run. I believe this to be the opportunity of a lifetime.
Sentiment: Strong Buy
Greece parliament will announce in less than one hour that they have passed the bail out plan. But then what? As Kramer report mentioned yesterday and as IMF has said the debt is just much too much for Greece. Kramer thinks the NBG will be recapitalized and stock will become worthless....
Sentiment: Strong Sell
I am also adding because the same way PGN dropped it will suddenly jump. And you are correct in that the stock is dropped from 3.35 in Feb 9th to yesterday's 1.74 which is exactly, to the penny, 50% correction in 23 days; but if you look just a few days further back you'll also notice the share went from 2.02 on Jan 28 to above mentioned 3.35 on Feb 9th, a gain of nearly 65%, in half that time or just 12 days.
So just hang in there and add if you can and you be ok, Also note that there are no profit takers right now as it is trading at all time low. I also agree that there is no good reason out there for such huge price drop which is all that much better for those accumulating.
Sentiment: Strong Buy