A copied post from RB...
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Hello Pebblers! Haven't posted much and wanted to reassure any of you that may have thought I jumped ship.
Not the case in fact I still have every share I have ever bought starting back last June @.0034. I have been adding consistently to where I control over 5MM shares and add on every significant dip. Would recommend others do the same.
I decided to be quiet and not fill the board with drivel and only post when I see that some hairbrained scenario is fleshing out after someone had a financial wetdream or nightmare.
The money flow is from the impatient to the patient, alot of company building and preparatory work has been accomplished by our little PBLS and we are now within 6 weeks of the end of the 2nd quarter when management has told us they will have filed for migration and all the associated documents.
I posted awhile back that I did a considerable amount of reaching out and touching my peers in the oil/gas industry in the areas where PBLS has interests. There is only one element that is lacking in the series of acquisitions orchestrated by our newest member of the Board of Directors, Ron Blackburn.
The last major acquisition, in my opinion, is a drilling company with a rig or multiple rigs, it will also be the largest cost acquisition because of the inherent expense of the drilling rigs with the capacity to service PBLS needs on our cross-section of leases. The shallow stuff (1500 - 3000 Foot) in Kentucky and Tennessee can be handled by the air-rotary type rig at a cost of $200k but the mud-rotary rig capable of drilling a 10,000 - 12,000 foot well in Nevada and Montana will cost $2 - 4MM. In my peer group inquiries I was able to confirm they had been talking to drilling companies about the purchase of them so that PBLS controlled their own rigs and could service their own internal company business plan, of course at significantly lower drilling costs.
The pattern of acquisition is cash plus restricted stock and a contract with the pricipals of the acquired company to continue to run that company for 5 years, this coincides with the 5 year restriction on the stock portion of the deal. Now you can see why PA and RB needed to buy back all those shares and continue to do so, all in an effort to not increase the A/S and work only with the O/S.
In my opinion, this is a ticket to financial independence, don't fall prey to those that would strip you of your shares, and remember one of my favorite sayings.....
Don't blink! The one that blinks first loses!
Trade well and wisely.
Your fellow Pebbler, Long and Strong!
USC Cowboy
“I got a great deal on some French WW2 army surplus guns. Never used and only dropped once...”
