Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Register for free to join our community of investors and share your ideas. You will also get access to streaming quotes, interactive charts, trades, portfolio, live options flow and more tools.
Someone here posted that Gustavson is highly regarded in the oil industry. Is that true? There seemed to be valuation numbers in that report. I'm not saying you are wrong about your claim. I think that part of the problem is that anonymous people who may in fact know what they are talking about simply say "trust me" which is an absurd request on anonymous message boards. Kindly tell us WHY they do not meet the requirements of showing proven reserves, instead of just saying "because I said so."
Looks like he filed a 13G, not 13D. Cursory research indicates 13G is less restrictive in a way, but the shareholder can't participate in "activist" actions? I don't any more about that.
Anyway, this looks to be some guy who just wanted to be a 10% owner just to say he was a 10% owner in something. He probably accumulated in the vicinity of 0.0002 based on the PGPM chart around the date of his filing, which makes the cost of 173,000,000 shares a relatively small $34,600. I don't know the man's net worth, but $34k is not a lot of money to some people. If he did hold all these years, he could be a millionaire from selling into the recent runup.
Well, we can always hope I guess. Seems like now it's all we have left. The company does seem to be digging its heels in with that June 30 pr regarding the suspension of trading. I would certainly not call myself an optimist, but at this point I can't lose any more than I already have in this thing. They either get through this debacle or they don't. As usual, time will tell.
PS: FYI I have gotten several PMs regarding PGPM over the last couple of months, but I cannot reply to them because I am not a paying member. Been considering it; though. Won't be until after July 4th, though, if I do.
Very disappointed to read this, head. I have(had?) 2 million shares.
You forgot to mention that you debunked their assets
Awesome, Bob! Thanks!
Good morning, sunshine! Seems like you're just about the only one left here!
I think a total disaster would be if PGPM was bidding at zero, like it was a couple of months ago. With a zero bid, any purchase at the ask is potentially an instant 100% loss. Wouldn't you agree, my friend?
In general market makers are obligated to fill orders at their quoted price and size, but if they've had enough at a certain price they can change their quotes as long as they met their obligation. I think it basically means they can move their quote right after getting hit or taken, or when there are no orders to fill at all. Not sure if there are significant differences with grey mkt securities, but here's some related info:
https://www.otcmarkets.com/services/otc-link-ats/faq#traderfaq8
http://finra.complinet.com/en/display/display_main.html?rbid=2403&element_id=4413
Ha! I'm not too old, but I guess you could still call me a geezer gamer. I'm chomping at the bit to get my hands on an i9 and a 1080 ti
Just looked back and dheminger already mentioned last week that otcmarkets updated PGPM Security Details
https://investorshub.advfn.com/boards/read_msg.aspx?message_id=132368836
I'm wondering if the "Verified" designation hit the web page last week, or if it is new news.
Oh, wow. The date of verification is on the page! Good catch, Global.
Do you know if the actual webpage changed on 6/20? That's last Tuesday, same day the price popped
Do what you have to do. Only you know what's best for your account. Good luck to you. According to another ihubber the profile on PGPM's otcmarkets page is now "verified." Hopefully you'll get the pop you're looking for to get out tomorrow.
What does that mean? "Plugged and abandoned by the taxpayers?" As far as I know, they still have rights to the wells. PGPM was cash strapped and they got some "parking tickets" for leaving their car in a no parking zone. Don't get me wrong, I'm not happy about oil and gas leaking into the environment, but the circumstances are what they are. Old wells can, and are reworked. That was the company's strategy for those old wells. Again, money became scarce. They've rebooted the comapny again. I'll take my chances with my money and risk 100% of it to make 10,000% or more.
I'm not perpetuating a scam. I'm investing and managing my risk by being careful about how much of my total capital I invest and by expanding and contracting my position at appropriate times. I don't know you from Adam and don't know the man known as Raphael Pinedo either, so I treat you both the same way: with a measure of caution. I'm absolutely aware that I could lose entirely 100% of my investment on this stock, but I'm not in it to see if I can lose money, I'm in it to see if I can make money. I'm not long to see if you're right about it being a scam, I'm long to see if I'm right about it being a real company.
Ha, he did PM me!
Pepe, how much money did you lose on this stock?
Ha, I'll be there too if it goes that high! You should name your yacht the Mayflower II
Thanks, ab. I should add that Pilgrim PLC may already have provided financial backing recently, but we just can't know with the info we have now. They might be the private investor of the $3MM, but the SEC filing just doesn't disclose who it actually is. I would hope that more details about several recent developments will be found in the next quarterly report.
Yes, hopefully they'll use some of that $3MM to get some new seismic tests done. Whatever the case they couldn't do anything before the $3MM. They were dead in the water, but they have the money now. Hopefully we'll see it on the books in the next quarterly report.
Ok, cool. Just keeping it real.
Just to be clear, not saying it's bad, but you do know that Pilgrim Petroleum PLC is not PGPM, right? It's the parent company of PGPM, so Pilgrim Petroleum PLC owns and/or has management control over PGPM, not the other way around. PGPM does not own anything that the parent company owns. PGPM's assets are limited to the ~$40MM investment stated in the filings (land containing oil, I presume). Certainly we're hoping for some kind of reverse merger, but I will be the first to admit that it is a speculative statement. My thought was that even without a reverse merger, Pilgrim PLC could still potentially feed business to PGPM and provide revenues and financial backing. We haven't seen that yet either, but they are still in the process of rebooting PGPM with the current filings and removing the CE.
Why should the Gustavson report from 2008 mean any less? Does the oil have a "freshness date?" It's been there for millions of years. I don't think another 7 will make a difference.
Pepe, just because it had been plugged doesn't mean it stays plugged. See section "Old Wells: Unplugged" at this website (in fact, I'll just add the relevant text below) https://hb-resources.com/why-do-companies-plug-oil-wells/
Yes, last column in the search indicates "Final Order/Administratively Closed Date" and I would hope Raffy put this behind him already. Maybe that's why Pilgrim was dark, and settling these issues with American Petroleum has enabled PGPM to "wake up" again and move forward. I don't think he'd want this issue unresolved while trying to go current with PGPM because his name is associated with both companies.
Where is it indicated that the issue is still unresolved -- that he hasn't paid?
Wow, if it fills the 2200s I'll finally be even on the shares I bought at 19 cents all those years ago!
Yeah, it's a contest between the people who become buyers in the 4s versus the people who become sellers in the 7s up to 8.
Yeah, my PGPM dividend shares were simply added into my brokerage account years ago and labelled as a dividend, but for all intents and purposes they looked like regular shares to me.
The Arcland shares, on the other hand, seemed to "transform" to new weird symbols a long time ago and aren't tradable in my account since then (delisted from grey mkt I guess?). One shows up as (ARCEN) with the parentheses for some weird reason and the other is ACLY## with the two pound symbols for another weird reason and when I click on either of them my broker app or website tells me the symbol is invalid. I've been meaning to call them to flush them out of my account.
Sorry, cell service is spotty, hiking in mtns now.
Yes, I got PGPM stock as a dividend. I don't remember exactly which deal it was attached to.
I did also receive Arcland stock I think for free. Like an idiot I also bought shares af ACLY, but it later became worthless. LOL I can dispose of it now maybe to offset PGPM profits (still holding 2MM shrs PGPM)
Yes, we got a dividend of PGPM stock. 1 for 8 or something like that. Ha! I had a measly 700 shares back then.
A fake wall? You mean market manipulation?
I agree on all points.
I'm seeing high of day reported as a penny. How many shares did it trade there?