Who said anything about buying MM’s word? That would be believing only one source when 3 to 4 sources are needed to determine if something is hype or something really exists worth investing in. The fact that a company settled a debt for what seems like pennies on the dollar can only mean one of two things. 1) The company thinks PBLS is dead and will take any cash they can get plus some Hail Mary Pass stock or 2) the company settling the debt thinks the value of the trade will be equal or greater than the debt plus the juice. I am more interested in the Wyoming and Nevada leases. Strike it there and the story is over and the stock moves. Cold flow oil changes everything. Wolverine Gas and Oil is in the general area and doing 150,000 BBL a month. Wyoming is going nuts, CBM, EOR, Gas & Cold Flow are all taking hold as well as some majors like Shell & Exxon taking a second look at Oil Shale, which in some areas averages approximately 1,000,000 BBL per acre of land and the total resource is 5 -6 times the reserves of Saudi Arabia in this sector alone. I do have concerns about the net profit ProGas makes. I would like to see a map of where their assets are, for example a pipeline system. If that pipeline system is in good shape, location of in relationship to hot drilling areas and if there is the possibility that the 5 – 8 LNG facilities either under construction or in an advanced state of planning will mean anything to PBLS. The government moves slow and so will reconstruction. It’s not like Mass. Was hit and Kennedy is crying, we are talking about a slow corrupt and not very influential populous. The only thing that can be counted on is George Bush keeping his word or the Republicans will face another disaster. With oil at $60 and a conservative EIA stating a average price of $65 a BBL for 2006, anything that produces oil will move. Hence the key of developing 1,000 BBL per day of production. If that happened it alone would propel the stock through the roof and would surely cross a dollar to say the least even with 650,000,000 to 850,000,000 shares outstanding. Hit 150,000 BBL per month like Wolverine = 3,000 BBL per day (Would take some time)with future drilling plans and then you can talk $3 per share or better and most likely the shedding of any business units that are not creating a high ROI. If crude slips below $30 or even $20 per BBL then you will not have to worry about anything then but finding new employment in a depression
“I got a great deal on some French WW2 army surplus guns. Never used and only dropped once...”
