Parallel Petroleum Corporation (PLLL)

[ddabetsmallwinbig]

Watch the BRT chart it is the heartbeat

[ddabetsmallwinbig]

Well then 25%

[ddabetsmallwinbig]

Up 10% and its early yet!

[ddabetsmallwinbig]

UP 14%! and VOLUME!

[ddabetsmallwinbig]

Adding more at these prices!

[ddabetsmallwinbig]

BUYING OP! Gas up PLLL down NAH
DONT BE FOOLED!

[PIZZABUSTER1]

AGREED SHORT TERM DOUBLE

[ddabetsmallwinbig]

NO doubt Oil will go up and up
This is a mid term double IMO

[PIZZABUSTER1]

i been watching this one for last three weeks--- WE READY TO START MOVING UP---

[ddabetsmallwinbig]

WEBCAST ALERT: Parallel Petroleum Announces
Management Presentation at Raymond James Institutional Investors Conference
MIDLAND, Texas, Mar 09, 2009 (BUSINESS WIRE) -- Parallel Petroleum Corporation (NASDAQ: PLLL) today announced that its President & CEO, Larry C. Oldham, will present at the Raymond James & Associates 30th Annual Institutional Investors Conference on Wednesday, March 11, 2009, at 12:10 p.m. Eastern Time. The conference will be held at the JW Marriott, Grande Lakes, located in Orlando, Florida on Monday through Wednesday, March 9-11, 2009.
Parallel's presentation will be webcast live, complete with slide show. The webcast and slide show may be accessed live on Wednesday, March 11, 2009, at 12:10 p.m. Eastern Time (11:10 p.m. Central Time), at Parallel's web site, http://www.plll.com, or at http://www.wsw.com/webcast/rj43/plll/. The webcast will not be replayed or archived.

[ddabetsmallwinbig]

Oil 47.29 and moving up!

[PIZZABUSTER1]

HECK YEAH----------- SHIZZELLE ME TIMBER---------

[ddabetsmallwinbig]

Oils got the power no doubt!
If i have to pay $4.00 at the pump soon I might as well make some money on the guys doing it LOL

[ddabetsmallwinbig]

Frenchee Thanks for the chart
I think this one is an easy double near term and could be a 5 bagger if oil gains momentum IMO

[frenchee]

PLLL is oversold and showing signs of turning as the CCI, Force Index, and MAC-D seem to be turning up. When PLLL can decisively close > 5-day price EMA, PLLL should rally up to its 18-day MA where I would expect resistance.


http://stockcharts.com/c-sc/sc?s=PLLL&p=D&yr=0&mn=8&dy=0&i=p98217684464&a=118675738&r=7423

[PIZZABUSTER1]

IF THE OIL HAS THAT MUCH POWER TO PUSH THAT SALESMAN UP IN THE AIR THAT HIGH --- I WANT A PIECE OF PLLL

[ddabetsmallwinbig]

OIL is going up ^

[ddabetsmallwinbig]

Chesapeake gains stake in Parallel's gas field
Oil & Gas Journal

By OGJ editors
HOUSTON, Mar. 2 -- Chesapeake Energy Corp. is gaining half of Parallel Petroleum Corp.'s interest in a Barnett shale gas field in exchange for Chesapeake paying to drill the wells.

Parallel had 35% interest in a Barnett shale project, and Chesapeake already owned the rest. The agreement pertains to all wells drilled on Parallel's Barnett shale leasehold from Nov. 1, 2008, through Dec. 31, 2016.

At the time Chesapeake commences drilling a well, Parallel will assign to Chesapeake 100% of its leasehold interest. Parallel retains a 50% reversionary interest that will vest after Chesapeake recovers 150% of its costs.

Chesapeake will fund all Parallel's costs for drilling, completing, and operating wells until 150% payout has been reached. Then, 50% interest will revert back to Parallel, and Parallel will resume paying its costs and receive revenues attributable to its 50% stake.

For all wells drilled after Jan. 1, 2017, Parallel will pay all costs and receive all revenues attributable to its 50% reversionary interest. Parallel is based in Midland, Tex.

THIS ALLOWS PARALLEL TO CONTINUE TO DRILL THEIR LAND BUT DEFERS THE COST BY PAYING CHESAPEAKE ONLY AFTER THE WELLS PRODUCE.

[ddabetsmallwinbig]

Small pullback today that darn DOW did it
The best thing IMO is PLLL will rise much faster than the market when she turns.

[ddabetsmallwinbig]

UP 15% today! still working on IBOX

[Duffau]

3.86 last price and results released today.

I've read the results twice and the company makes it sound so much better than the ratings.

Don't you look for a huge bounce real soon now?

[frenchee]

PLLL looking toppy now. Look to sell this week...

[frenchee]

it's on the move now...

[frenchee]

RECOMMENDATION

We rate PARALLEL PETROLEUM CORP (PLLL) a HOLD. The primary factors that have impacted our rating are
mixed - some indicating strength, some showing weaknesses, with little evidence to justify the expectation of
either a positive or negative performance for this stock relative to most other stocks. The company's
strengths can be seen in multiple areas, such as its revenue growth, good cash flow from operations and
expanding profit margins. However, as a counter to these strengths, we also find weaknesses including a
generally disappointing performance in the stock itself, deteriorating net income and generally poor debt
management.

HIGHLIGHTS

PLLL's revenue growth trails the industry average of 24.8%. Since the same quarter one year prior, revenues
rose by 12.5%. This growth in revenue does not appear to have trickled down to the company's bottom line,
displayed by a decline in earnings per share.
Net operating cash flow has significantly increased by 273.78% to $16.85 million when compared to the same
quarter last year. In addition, PARALLEL PETROLEUM CORP has also vastly surpassed the industry average
cash flow growth rate of -40.58%.
The gross profit margin for PARALLEL PETROLEUM CORP is currently very high, coming in at 73.20%.
Regardless of PLLL's high profit margin, it has managed to decrease from the same period last year. Despite
the mixed results of the gross profit margin, the net profit margin of 1.00% trails the industry average.
Current return on equity is lower than its ROE from the same quarter one year prior. This is a clear sign of
weakness within the company. In comparison to the other companies in the Oil, Gas & Consumable Fuels
industry and the overall market, PARALLEL PETROLEUM CORP's return on equity is significantly below that of
the industry average and is below that of the S&P 500.
The share price of PARALLEL PETROLEUM CORP has not done very well: it is down 23.98% and has
underperformed the S&P 500, in part reflecting the company's sharply declining earnings per share when
compared to the year-earlier quarter. Looking ahead, we do not see anything in this company's numbers that
would change the one-year trend. It was down over the last twelve months; and it could be down again in the
next twelve. Naturally, a bull or bear market could sway the movement of this stock.

[frenchee]

Parallel Petroleum Corporation (NASDAQ:PLLL) today announced that it has completed the sale of 3,000,000 shares of its common stock at an initial public offering price of $18.50 per share, resulting in net proceeds of approximately $52.5 million after underwriting discounts and estimated expenses. The sole underwriter for the offering is Jefferies & Company, Inc.

The common shares were issued under Parallel's universal shelf registration statement. Copies of the final prospectus supplement relating to the offering may be obtained from the offices of Jefferies & Company, Inc., Equity Capital Markets, at 520 Madison Avenue, 12th Floor, New York, New York 10022: 1-888-449-2342.

Parallel intends to use the net proceeds from the offering for general corporate purposes and for conducting its exploitation, development and acquisition activities in certain core areas such as its Permian Basin properties and its Barnett Shale gas project. The proceeds will not be deployed all at once. Pending such use, Parallel intends to use the net proceeds to repay borrowings under its revolving credit facility. The Company anticipates that the net proceeds will be available under its revolving credit facility as needed in the future to finance its exploitation, development and acquisition activities, subject to its compliance with provisions of its revolving credit facility that are conditions to loans and funding under its revolving credit facility and any recalculation of its borrowing base, which is currently $200.0 million.

[frenchee]

Long as Parallel doesn't have a decisive close < 18.20, I think it is setting up for a rally. What's your current opinion on it SeriousMoney?

[frenchee]

MarketGrader currently has a SELL rating on PARALLEL PETROLEUM CORP (PLLL), based on a final overall grade of 50.0 scored by the company's fundamental analysis. PARALLEL PETROLEUM CORP scores at the 64th percentile among all 5440 U.S. listed equities currently followed by MarketGrader. Our present rating dates to June 2, 2007, when it was downgraded from a BUY. Relative to the Oil & Gas Exploration & Production sub-industry, which is comprised of 150 companies, PARALLEL PETROLEUM CORP's grade of 50.0 ranks 73rd. The industry grade leader is ST MARY LAND & EXPLOR CO (SM) with an overall grade of 81.7. The stock has performed poorly in the last six months in relative terms, down 25.11% compared with the Oil & Gas Exploration & Production sub-industry, up 4.48% and the S&P 500 Index, up 7.58%.

[Cuppy]

What is your take on this company now? near a 52 week low. How much $ is natural gas now?

[SeriousMoney]

PARALLEL PETROLEUM (PLLL) - Toby 3/31/06

Parallel Petroleum announced that it has entered into an agreement with five unaffiliated third parties for the acquisition of additional interests in its Barnett Shale gas project. Under one of the agreements, Parallel purchased an approximate 8.4% working and 6% net revenue interest in 16 wells that have already been drilled, together with the related infrastructure, pipeline and equipment for a total cash purchase price of approximately $5.5 million.

The company's base working interest in the 16 wells has increased from approximately 28% to 36.4% as a result of this acquisition, and represents an estimated 3.7 Bcf of gas, or 617,000 equivalent barrels (BOE) of proved oil and gas reserves, net to Parallel, of which 56% is proved developed reserves. The production acquired represents approximately 1,440 net Mcf of gas per day, or 240 net BOE per day, as of March 14, 2006, and is unhedged.

OUR TAKE: With natural gas over $6.50, their cash flow will be 40% higher in 2006 than 2005 -- more room to grow.

[SeriousMoney]

Parallel Petroleum Completes ``Harris San Andres'' Acquisition
PR, Friday January 13, 12:19 pm ET

MIDLAND, Texas--(BUSINESS WIRE)--Jan. 13, 2006--Parallel Petroleum Corporation (NASDAQ:PLLL - News) today announced that its subsidiary, Parallel, L. P., completed the acquisition of its "Harris San Andres" properties from the remaining 4 of 10 unaffiliated parties for a combined purchase price of approximately $23.4 million, including adjustments. This second, and final, closing represents approximately 3.5 million BOE of the total 6.4 million BOE of proved reserves acquired for a total purchase price of approximately $44.2 million, including adjustments. The first closing for the acquisition occurred on November 15, 2005 and represented approximately 2.9 million BOE of proved reserves for a purchase price, including adjustments, of $20.8 million. Parallel financed the acquisition through its existing senior revolving credit facility led by Citibank Texas, N.A. and BNP Paribas. The effective date of the acquisition is November 1, 2005. Please refer to the Company's press releases dated October 17, 2005 and November 16, 2005 for previous information on this acquisition.

Property information

As the Company previously announced, the "Harris San Andres" producing and undeveloped oil and gas properties include approximately 6,100 gross acres in Andrews and Gaines County, Texas, an area of the Permian Basin that has seen primary San Andres development in recent years. The leases are approximately one mile from the Company's Carm-Ann properties and will be integrated into the Carm-Ann base of operations. Please refer to the Company's press releases dated September 27, 2005, and November 7, 2005, for recent production growth information concerning the Carm-Ann properties.

Approximately 1,300 gross acres of the total leasehold have been developed through the prior operator's drilling of thirty-five 40-acre wells. Parallel anticipates the 1,300 acres will be further developed through 20-acre infill drilling and waterflood implementation. The Company expects the remaining 4,800 gross acres to be field extension and lower risk exploration acreage. Gross production from the 35 wells is approximately 650 BOE per day, which is approximately 439 BOE per day, net to Parallel. With this final closing, Parallel owns and operates a 90.0% working interest and 67.5% net revenue interest in the properties.

Management Comments

Larry C. Oldham, Parallel's President and CEO, commented, "We are very pleased with this acquisition because of its development opportunities. We have budgeted $11.1 million in 2006 for the drilling of 23 wells on this project. The first well has been drilled and is awaiting completion."

The Company

Parallel Petroleum is an independent energy company headquartered in Midland, Texas, engaged in the acquisition, exploration, development and production of oil and gas using 3-D seismic technology and advanced drilling, completion and recovery techniques. Parallel's primary areas of operation are the Permian Basin of West Texas and New Mexico, North Texas Barnett Shale, Onshore Gulf Coast of South Texas, East Texas and Utah/Colorado. Additional information on Parallel Petroleum Corporation is available at http://www.plll.com ...

http://biz.yahoo.com/bw/060113/20060113005313.html?.v=1