It's funny, I was looking around in Penny Land for some additional investment candidates and after looking at 27 other companies in the oil play, things at PEII don't look so bad at all at this point. Many have ZERO income and are endlessly spending money to try to get there idea to float. Granted PEII has a much less than stellar past BUT FS said he would get TEXAS back on line with production, he did and now there is minimal income coming in from those leases. Simmon-Snyder lease in OK is coming online within 2 weeks (according to FS in radio intervue) adding another 35-50 BOD production. Wells in Texas are getting both Acid stimulation and injection pressurization to enhance oil production. This will not remain a .01/share stock for long here and will rise. There are about 40M shares OS with 2B AS out. The stock could easily go over $0.15/share and higher by the end of August IMO if MM's don't manipulate it lower. Lots of potential and lower debt will be in the 2nd quarter 10-Q too. In a nutshell a cautious "BUY" should be attached to this stock! All my opinion based on my own DD and dealing with PEII's ups and mostly downs for months UNTIL NOW! Finally, I think PEII is about to deliver, BIG TIME! Give it some breathing room FS, slow the dilution! Way UNDERVALUED IMO!
