Phoenix Associates Land Syndicate (fka PBLSQ)

[notime2wste]

tedwitt

So why is PBLS concerned with the price of the gas going up or down? It shouldn't matter. Profit should be locked to the number of producers selling a set quantity of gas (at a predetermined markup). The price of the gas is irrelevant because they're selling a commodity. Nothing progas does will change the price of gas.

There's something that either nobody understands about their business model or they're being intentionally veiled about.

With regard to Enron, $500k loss doesn't make any material difference to a company that has net profit of 20.6 million (or whatever comparable profit they had during that year). That's 2.5% of profit. However if "net pretax revenue" is what they're actually netting 10% of, they're losing 25% of profit.

Look, I'm not trying to bash pbls and certainly not you. Your DD is invaluable to the board. I'm just looking at facts that don't seem to add up. I email Ron once in a while, and his tone is reassuring (hold and buy more if you can) but not really as detailed as a serious investor would expect.

No time