That is great. It will now start moving up the wall of worry for weeks and weeks.
Currently shares are priced for bk but with no bk in horizon they will zoom back up to where they were before this bk rumor began making the circles.
I upgrade to BUY.
KERP is not but bonuses given to critical employees of a company as an incentive to stay at times of restructuring, bankruptcy, or any and all other upheavals or uncertainties or major changes a company may be going through.
However, if a company is contemplating bankruptcy of any kind they usually wait and obtain court's approval for KERP (to the top management); I believe Paragon would not have announced this KERP if ch11 was imminent as any bk judge would have either thrown it out or drill the company over it. For this very reason I don't think bk is imminent rather I think they are having success in out of court negotiation with debtors and
bondholders. We will probably find out a lot more on November 9th.
Sentiment: Strong Buy
Thanks (although I don't even see how in the world PGN would even contemplate filing bk under their current finances). Good luck.
Pgn does not, in my opinion have a "high likelihood of bk"; Of course price of oil has alot to do with how many in the sector will fair but PGN is in better financial situation to weather the storm than many many others.
PGN announces their latest FSR and announce the date for next earning report but to disappointment of the shorts there is nothing said about bk or ch11 as shorts were claiming would be announced any day. This in itself is proof that no such restructuring is contemplated by PGN which is very positive in my view for the share prices which have collapsed in anticipation of just such announcement .
In the remotest possibility that this "smart" management was even thinking about bk, which we know they were not, now with oil moving up no doubt they would have a second thought and such possibility would definitely be absolutely zero. Also, don't be surprised if petrobrass comes back begging to honor the contracts once again.
Those standing on the sideline you could have bought the shares at a 33% discount just a week ago but it is not too late as PGN will fly. I would back up the truck and buy with both hands. This is opportunity of a lifetime. For those weak hands that sold over the past few days you already sorry but if you have any shares left hold on tight to them as shorts will try to use all the tricks in the books to steal them from you.
Sentiment: Strong Buy
Zacks Rank [?] Rank Change Trend Buy 2
Zacks Industry Rank [?] 87 / 265 (Top 33%)
Style Scores [?] Growth: C | Value: A | Momentum: F
Equity Research Report (Oct 5,2015)
I am so sorry about your situation; I have been there before and know first hand how stressful and depressing it can be. I am glad you are working 80 hrs a week which tells me you are a fighter and will eventually do fine.
But i wonder how did you zero out. In my case I was using margins and my shares were sold off without my consent. Is that your case? For me I've learned since not to ever ever buy on margins. The stocks I was holding at that time eventually came roaring back but did not do me any good because I had zero shares.
Right now I am dramatically under with PGN being down so much that I can't even believe. But since I did not use margins I continue to hold the same number of shares; In my case, and many others here that have not zeroed out the big question is what the management will decide to do from here forward. If they zero out the current shares many many folks here will be in dire shape and some may be even in a worse mental status than you. But for some reason I continue to be hopeful while also somewhat trusting that the management is not going to leave us high and dry specially after reading your story but also going ch11 is going to be very costly to them. I believe at the end of the day thee management will succeed on buying back enough out of court debt they won't need ch11. Am I losing sleep over this?Of course. I have not had a good sleep since this tock fell below a dollar. But since it went from 90 cents to 24 cent over roughly 3 week I have been practically depressed and severely stressed not knowing what is next. However, I continue to work and have been able to keep all of this for the most part to myself simply because I stay hopeful that at the end of the day this management, that in my view has not done anything to help the shareholders, will finally see the light and come through for the shareholders. Keeping my fingers crossed.
All we need is a press release from the management verifying that no ch11 and this will fly (or will it Zoom Zoom?)
I agree Anthoney shot himself in the foot and exposed his utter lies based on ulterior motives and lack of knowledge by rushing in another 'scary' post on the day PGN finally saw a decent day gaining 10% , and within a mere 12 days of nearly identical post by him, as though he was in a hurry to stop it from going any higher at any cost and by doing so he made even the most naive investors see his true color. What an idiot.I suspect his short clients and buddies are going to be pretty #$%$ ay him; We may also not see him post 'articles' on PGN again.
The 25 cents low of last week was held today and at one time we sharply bounced off it ...I agree this seems a classic double bottom ....Besides this stock is way oversold ...I have this got feeling we'll start going back up tomorrow.
Some manipulating short sold a 1000 share to himself between two of his different accounts at exactly 7:14 at 22 cents a share to shake more weak hands come tomorrow morning. Don't be fooled by this. To verify this google nasdaq after-hours and enter ...
I am thinking that may be this short feels we going to begin some climbing tomorrow and is panicking hence such a deceitful scheme.
Come on people; You know well that PGN was unjustly and wrongly punished this week going from over ).90 last week to just 0.30 right now mostly based on untrue rumors of bk; But you can still help vindicate PGN's innocence... Pull it to the GREENLAND with only 20 minutes left to the close. Please pretty please.
This is been a rough week for PGN shareholders and PGN management (yes I feel bad for the management because they did not anticipate market would erroneously jump to bk conclusion and so severely punish the stock resulting in all kinds of insult to them). So come on PGN pal you can do it; you have much cash and no debt payment until 2019 which puts you in much better shape that many other offshore drillers.
So I beg you PGN; there is only 30 minutes to close of the market; At least give the poor shareholders and the management a brief relief by going green so that we can all at least somewhat enjoy our weekend; But more importantly so I would be proven right as I called you going GREEN hours ago;
So please PGN pal...GO GREEN.
For those of you who think I have gone nuts; believe me stocks talk to you and at times listen to you specially if you tell tell please pretty please. I know this from personal experience !!!!