The share price seems to be settling for the time being in this area. I hope it does not retreat much below 7 and then we get another good quarter to reinforce belief that we have turned the corner in a profitable direction.
You are a vile liar taffytaffty. Production is up but I said nothing about CO2 being successful as we do not yet know. Have no idea about the fate of offshore Australia or if we will drill more in the UK.
I am a long term investor so trade infrequently and to me a trade is a company held less than a year :-) But I think you have this pegged pretty well as to it being a good buying range and I would be a buyer for accumulation up to 8.
I do not think PDS will have trouble paying the dividend into the foreseeable future. In addition to having contracts in place they also are building the most efficient rigs for shale drilling which, I have read but cannot attest to the veracity, is still profitable in large shale areas to 50 dollars a barrel. Shale deposits seem to deplete much more rapidly so more drilling is necessary and that is where PDS has an advantage. I think the best land drillers have been marked down in price due to the fear of oil dropping further but those selling have not understood the value of these drillers. This is probably a good time to accumulate some shares but that is not a guarantee that the price will not go lower in the near term.
"Please don't sue"? I think that leaves lots of space between just and legal--hee hee! But I suppose that since you said please.....:-)
Read the 10-Q and am not surprised that they state the result of the CO2/EOR project has not yet shown (and in the end may not show) increased levels of oil production. I think they only opened the 4 producer wells about two weeks ago so time will tell. Any of us who own shares are aware of the risks involved. I will not be adding to my holdings without seeing progress but do not think it is yet time to throw in the towel.
Avi, I must thank you for pointing out why the revenue declined and also pointing out that the result of what they were doing may (or may not) result in increased production. No one should be surprised that declining oil prices have and will continue to have an effect on small producers. Normally, you would have posted your first and last statements only.
I believe you are right about that and it becomes a case of how efficiently they can make the product and market it. Seems we may have reached a point in that process where the positives definitely outweigh negatives.
Thanks networth. I keep reading articles that say oil will recover and I think that must be true or a great number of projects will just be shut down leaving only those which are so cheap per barrel to produce that it makes sense to do so.
Not surprised that it did. It had jumped about 1.50 in less than two days so a 50 cent or more correction from that jump really is not surprising.
I expect the share price to move back into the upper 5's price level as we await results for next quarter unless management announces a major new customer or we get bought out.
If San Diego continues to go well they must surely have to incur some costs to spread to more cities but I am more than happy if those extra costs produce the San Diego result. I think the company may be back on the right track after too many quarters of issues that hurt earnings.
Wish I had some reason to believe bursts of activity like this were for some positive reason but I suspect it is just speculation with someone hoping to pick up a few hundred dollars.
If they can move that three cents per share up substantially in the next quarter, I suspect we could be moving towards 10 dollars a share again. I cannot imagine that it would happen based only on this one good quarter.
Last I read, they had pipe and other materials on shore and ready to go. Do not know if they have a rig secured though. They absolutely have to have a partner to take the majority of the lease because Sonde cannot possibly afford to drill and develop this. I fear that, assuming this lease has any value that a major cannot get in a safer political area, we will just end up losing the whole thing. I suspect that is what the market has been telling us for over a year.
Are you serious? Keystone and Sonde have no relevance to each other at all. Keystone is not likely to be approved any time soon regardless of the election and, even if it were, it would be 2017 before oil from tar sands would flow for export.
Was always a realist but admit that sometimes I wear rose tinted glasses and am more willing to take a risk than are many people.