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.
To not be concerned at this point would be foolish. I'm gonna give Floyd one chance to deliver, he says he is going to start flooding the field with salt water and bring up pressure to a major oil field. In 3-4 days that should commence and shortly there after we should see some real production. IF and I say IF that happens then I'm in and staying in. If not I'm out because he will never deliver as promised even if he gets the S1A approval. He NEEDS to show he intends to make a SUCCESS of PEII and rebuild share holder confidence. Otherwise this is just another scam.
There are some people loosing confidence here though because of past performance of Floyd. He NEEDS to close the share sales spigot down to a dribble for a couple weeks to show he cares about share dilution issues or this stock will likely fall below previous lows.
You have a point Naz but if he starts "delivering" and at this point I think he knows he HAS to deliver. Say he gets production up to 50BBD oil, then this company will likely survive and depending on wise use of cash can slowly grow. Don't forget he has already taken in about $3M dollars this year from stock sales and ran all of last year on slightly over $5M. IF and I say IF he gets S1A approval and IF he stays the course outlined, this stock will gain value despite its past.
Was looking over past PEII SEC filings today after filing my taxes, glad that's finally done. There were concerns here yesterday about D. Vesco being an issue with a law suite at some point, doubt it, he has mostly common shares and a few preferred "B" shares. Most of his preferred were converted to common shares back in June of last year. He's in the same boat we are at this point. If he had an issue, that would have been the time to address it. Expect a big push to come rapidly to get this stock above $0.01 by any means necessary , very soon, within 30-45 days. If it doesn't happen naturally then expect to see a "reverse split" to get it there. Otherwise, this stock will be trading in the PINKS and that's no AMEX. Hopefully it gets to the $.01 level through natural growth with no split. It is just speculation on my part but if FLOYD wants PEII to get to the AMEX he's going to pull out all the stops to get there. That could be really good short term. He better start pumping oil FAST!
Naz, although the general direction of this stock has been down for over a year, it has had some healthy jumps in value along the way. The only way to play this stock is to look for a good buy in time and ride it to a peak, sell where you feel comfortable and not get greedy. You know it will fall again, at some point buy back in and take the ride again until it stabilizes in an upward direction. Then take a much longer ride and reap profits. Use whatever numbers you need to make it work for you. Make "it" WORK for you, not the other way around. NEVER get emotional with stocks, neither love them or hate them. You WILL loose money every time you fall into that trap. Just a thought or two of my own.
familyguy6, I believe Naz told me he has a position in the stock, has had it for a while and has been beaten up by the stock bad. He has the right to vent and there are a lot of facts in his statements. Some of it I've found informative, some not so much. As another investor in the stock myself; I like to here all views. This stock is no gem but in my opinion can produce shareholder value, at some point. When that point comes, no amount of bashing is going to stop it, only Floyd can.
I just hope her legs don't fall off. I set my expectations low, it's sad...lol
You've done it now Grits, there's gonna be a hit put out on you now, lol.
At least they finally updated the outstanding shares values recently. Now people know better what they are getting into.
If it happens, would be a nice change to SEE real oil quantities come up and REAL revenues. Hope it happens, then maybe the share dilution will ease off a lot.
If PEII had been putting in to drilling/reworking at least 50% of all the money they have taken in, to this point. They would be pumping 50BBD easy by now. The debt would be under control better and the money train would have left the station. Share holders would be happy and all would be right with the PEII world. That's not the case yet, but hopefully PEII is getting to that reality at some point.
May your guesses always come true...lol!
Or at least 85% would be nice.
In about 80 minutes or so we should start to see the effect of the Floyd radio broadcast effect on this stock, hopefully a good effect for all concerned.
The share spigot needs to get turned way down for awhile. Hopefully when (if) S1 gets approved that will happen and PEII shareholders will makes some gains.
Yeah and on April 5th the PEII web site posted updated numbers of 1,829,645,567 common shares out. That was the 5th, by now, over 2B shares for sure.
I'm thinking it's the finance company that got the 30M shares in lieu of $30K debt @ .00099/share is dumping cheap to get their money out quickly. If so, shouldn't last long and share price might come up after Floyd talks. We will see.
There has to be over 2B shares out there by now. Hope it slows down.
Naz, maybe it's the 30M shares that were used to pay down debt coming in, they got those for .00099/share and selling at .0014-.0015/ share is a healthy profit for them. Just a possibility.
Even I thought this would run to .0018 right out of the gate this morning, disappointing. Well, lows got tested... hopefully up from here, for all concerned.
No one can say your not committed to PEII then. Hope it works out for you and all us smaller investors too.
If you have been following this stock for any length of time the issues are well know and well publicized here by others, Read some of Naz's posts. Beyond that, this is MY opinion based on my own research. You need to do your own and make a judgement call based on what you find and read for yourself and NOT listen to all the pumping and/or bashing. Good luck, hope you make money.
Russ49, I doubt this stock will see anything over a penny a share anytime soon, unfortunately. It will likely struggle to get even there. Wish it wasn't the case but there are too many issues with this stock for much more than that.
Naz, anyone thinking this is going to .10 is smoking some good stuff and should be investing in Marijuana stocks instead. I think this could in the next 30-60 days,at some point, hit .01 (MAYBE at best)! I think any more than that is just totally unrealistic. Just my opinion but only if everything goes right for it.
Words to live by.
Agreed, I think a bunch of investors came in in the .002's to .003 so hopefully it drives higher for their sake, I'm afraid only to drop again though. Hope we all make a few dollars...
Agreed, hopefully the thread holds, for investors sake. There are some here that will likely be jumping off a building if not.
Yeah Russ, it's not for the faint of heart at all and I can't believe how much some here have invested in this stock. I have a real issue with PUMPERS though. It gives an unfair view of the stock and a false sense of urgency to BUY a stock at a particular level. Manipulation at its finest. I watched it last two weeks and threw my 2 cents worth in and immediately got branded as a detractor. I actually think the bottom came in Friday, that's when people should, in my opinion, have bought in, not before. Such is life.
Naz, do you still have position in this stock, it seems like you did but are on the side lines for now?
I hope so Russ for all concerned. I would like to see some long timers here make back some of their losses to this point. Maybe I'll make a buck or two, too.
I agree, for the most part. Like I said, short term, This thing might gain legs and make a run of it. I will keep a close watch on things with PEII though and if "I" feel it's time to bug out, I will. Keep the realistic information coming, better then some of the pumpers RA, RA, GO TEAM rhetoric...lol
Russ49, I don't see this company going bankrupt in 3-5 months, in 3-5 months, depending on OIL sales and many other factors, financing or no financing, it is a possibility and that is why it must be put into statements by the company. Again, I hope the oil flows and financing gets approval, that's best case but there is a POSSIBILITY of things going south with this. Floyds just covering his butt, it's a common practice and there are a lot of small companies that put this in there statements to avoid law suits later. I don't see it as a big deal at this point.
Russ49, a lot of what was in previous S1's was OLD information at this point and I hope the latest was updated with the latest 10K info or the SEC may think there is some shenanigans going on here and not give approval. Just a thought.
naz, I saw the going concern statement too. Yes, concerns me but again I think Floyd is a crafty person, covering his butt for the eventuality of bankruptcy (if he doesn't get oil production to at LEAST $1M/ year). I think it's very possible that bankruptcy is a real risk with this stock. I just don't see it happening within the next 3-5 months, if at all. Too many variables right now. If I see the right indicators, believe me when I say, I'll be out of this so fast it will make heads spin. I'm not saying load up, like some, just saying, at least short term, money can be made here.
swimom, I am no PUMPER (as most will attest) here and welcome all views on this stock. I believe your analysis of Floyd may be correct. I'm hoping he is greedy enough though to get oil actually pumping to prop this thing up. I know it's NOT the most scrupulous way to do things but I think there is a method to Floyd's madness, if you will. I think Floyd does not expect the S1 to get approval. I think he will re apply with Q1 or Q2 10Q information again later. Meanwhile he will sell shares and rake in money to keep afloat. The share price will be volatile but I believe the upside will be delivered, in fits and starts. It's risky at best. Just my opinion.
Nazulya, you seem to have studied this well. I see your points but I think that Floyd expects the S1 to NOT get approved and has sold over $2-3 million dollars worth of shares already this year. He may NOT need the S1 right now to continue operations IF he can sell another $2-3 million in shares by August. He then will be in a better financial position because he won't have to pay that money back to a financial institution. Meanwhile, he's pumping oil and HOPEFULLY putting more plugged wells back into production. I get that there is only 4-5 employee's but PEII is likely contracting out the drilling rigs and personnel to do the well work. I don't look at this stock like some, I NEVER look at any investment with rose colored glasses. Keep the info coming.
Re-evaluated some of the numbers in the 10K and still skeptical until I see the 1st quarter 10Q but there is a "chance" that PEII can pull off their plan to break even but doubt it will be in the 2nd quarter this year, maybe by the 4th quarter. If Floyd can back off on the dilution for a while and let the shareholders start to control the share demand and raise share price, this could gain traction. They NEED to increase production ASAP and use the money to bring more wells back to production. Then I will believe there is a real plan to prosperity. I don't think we will be over 8B shares outstanding by the end of the year, that said I hope not over 5-6B. It all hinges on production and sales, the S1 approval would be nice too.
My facts are current, 1.345+/-Billion shares sold between 1/6/2014 thru 4/05/2014, at an avg share price of .0017/ share = $2.286M +/- for those shares sold by PEII. IF used to pull oil out of the ground at a decent volume then that's great. I'm not seeing any numbers, ie BBL's sold and PPB information that most oil co's have available if they are pumping anything substantial. That worries me and should worry you.
That means some people think this thing is worth a risk at .0015/share not at .002 or even .0017 though or those buy orders would be ABOVE .0015 and this stock would be going up instead of DOWN. Got news for you, this little stock could test the lows of .0013 SOON!
Here is food for thought, if Floyd sells 2B shares at $0.0015/share he brings in $3M dollars. Why pump a bunch of oil to pay your bills until the share well runs dry. He already made over $2M this year selling shares to all here. Hell, he won't even need the S1 approval. He just needs to manipulate the share prices higher to make more money.