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the price need to close over $0.24 on volume and stay over $0.24 for 3 days then we will have confirmation for reversal in the trend
I like today's move
Yesterday I read all the PRs since Jan 2004. And my math tells me we should have reserves way over $1 billion, but the problem is I don't know how much of it is owned by PRVB.
Any thoughts...
Oil will stay high since the dollar lost ground. NG is picking up in anticipation of the increased demand during the winter season.
I think Oil and NG prices will stay in the sky probably until the end of April. Meaning we should have a blasting 4Q and 1Q
Lets be realistic here. It's a good time to take some profits out. Both the revenue and cash flow can't support the current share price. I damped mine yesterday at $0.33 and I'm happy with it. I made 250% on this position for about three month.
I'll consider this stock again at around $0.15
It's 11:30 AM and there is still no trade. This is becomes really annoying.
jjgarcia I can't wait myself to get jktdet feedback...Just a week to go
Heavy trading going on ha ha ha
jjgarcia I believe tricoast1 said he is going to attend the meeting....
Here are the requirements for Amex
http://www.venturelawcorp.com/listing_requirements_amex.html
From what I see we should qualify easily
Any Thoughts....
estock50 Ok got it.. Thanks for the clarification...
estock50 by the way the Net Tangible Assets are not $3-$5 but only about $0.14
estock50 I have 107,000 shares already and by the end of this year I'll be at or above 200,000 shares.
I'll keep adding until this stock is under $1 but for now I'm on hold to see the 3Q results and the outcome from shareholders' meeting
jjgarcia I'm 30 and I hope to retire before I get 35.
But to answer your question I think 2-3 years. I'm positive it will not take more than 3 years.
Stick arrowed for 3 years and you will see.
estock50 It's funny that you mentioned it. It will be my retirement too he he he. if everything goes well I'll be in until $3-$5. Hope by then I'll have 500,000 shares or more....
probably the company is buying shares back since the bit price has bin high for the last 2 days
the bid moved up to $0.235... There is a chance we may end up higher today.
today we are looking good the bid is at $0.23.
It seems we are moving side-wise. I assume this is a better than dropping.
Somebody is manipulating the price...
100 shares at $0.24 give me a break
I want to make a small comment...
The company's Net Tangible Assets have been increasing with about $3 million per quarter (at least for the past 4Q). Meaning this quarter they should be at or around $22 mil
At the current price we are buying $1 of the company for $1.5 (and this $1.5 is producing income and you still have your $1 left backed by the company's assets) this should be normally at $3+ meaning the stock should trade at $0.46
If the SP drops to $0.165 this company will trade at its book value
The company has Very strong balance sheet. No matter what is said about the company on this board and no matter how you look at the company it is Definitely undervalued. Unless I'm blind or someone on this board knows something I don't...
tricoast1 my guess is similar to yours => Under $0.30 unless the 3Q is surprisingly good
My guess is the 4Q and 1Q will be very strong. You have oil prices hitting record highs. NG is picking up since the winter season is coming. I read few articles (can send references if you want to read) the NG prices are expected to move above $8 during the winter season. In addition, the oil prices are expected to remain over $70 during 2008 and the spot price of NG is expected to average 10% higher in 2008 compared to 2007.
We have the production now and new wells are being drilled. I'm still bullish long term. However, I stopped adding since the 3Q results most likely won't be great and the stock may deep a bit more to may be as low as $0.16. I guess it doesn't make sense to add now if I can add more at lower price. Since I'm not sure on the 3Q results and how the market will react I will not sell either. So I guess the smartest thing to do is to wait.
This are my thoughts...
jjgarcia I'm on the same page.
If we can get over this quarter the future looks a bit brighter...
The bid is kind of low.... We may end up lower today
looking good today...
Oil is at record high. We should get some more oil wells instead...
I have 107K myself... and I don't think it will be wise to put more in this stock since the other 3 positions I have are profitable. I wont sell profitable positions to buy unprofitable, But I wont sell my PRVB shares as well.
You don't need me to sell your 100K shares. Just put a limit order at $0.21 wait few days. It will sell guaranteed.
But if you are so eager to sell then I may buy some 20-30K from you after the shareholders' meeting.
StormyMonday I don't know about the oil and gas revenue for the 3Q but there will be revenue from selling interest in the properties. This guaranties the bottom line of some $5-$6 MM. So there will be profit for 3Q no matter what.
Any thoughts...
LPMOST you might be right who knows
StormyMonday check NTES last time recommended this stock to you (about 2 weeks)it was $14.90 yesterday it was traded for $19 +
Did you buy some of it...
tricoast1 I've been accumulating myself for about 16 month. And I have just over 100K shares.
I'm not planning to sell in the next 2 years. If it drops I'll just buy more...
tricoast1 ....
Patience my friend give it a year or two.
I calculated that the revenue should be at about $60 million by the completion of the 25 well program. This translates into $0.42/Share (assuming that PRVB keeps buying shares back for the next 2 years)
At $0.42/S using 9 PE ratio we should be at roughly $4.00
tricoast1 there were 400 shareholders on record as of April 2007
jjgarcia here you go...
The price of NG as of yesterday was $6.86 ($US per mmbtu.)
MMBTU is energy measurement that measures a unit of heat. A unit of heat equals to 1,000,000 Btu (1 mmBtu); the thermal equivalent of 1,000 cubic feet of gas with a heat content of 1,000 Btu per cubic foot.
so 3,800 mcf = 3,800,000 cf = 3,800,000,000 Btu = 3,800 mmBtu = $26,000/day = about $10,000,000/year
From the above number you need to discount the interest that we sold to investors (some 25% maybe)
Any Thoughts...
This is a good thinking. Seems reasonable to me
I guess some investors got really impatient and start selling. This is the only reasonable explanation I see for the SP drop. At current levels doesn't make any sense selling. I suppose some investors are really frustrated with this stock.
This thing is going nowhare until after the shareholders meeting
sidesh0wb0b I agree It might be a bit to high. If it drops to low $7 or just under $7 I'll jump in as well.
I just sent my vote.
tricoast1 I agree Fox should look at the mirror because that guy in the mirror is the reason share price is so low not the Berlin Exchange.
How did you guys enjoy the heavy volume today ha ha ha
This is a complete joke....
I will wait to see the 3Q results and if there is no improvement I will dump it myself. I really expect good results if not "F" it I'm out too.
tricoast1...I'm on the same page
James444ct I will be adding after Oct 15 some 20K to 45K depending on the price and my other positions.