It can be - a few of us have been around this for a really long long time, like 10+ years. Nothing gets done in a hurry usually. Lack of news is the standard here. The CA deal, imo, it’s been a real trying situation for common shareholders going back many many years. Before that, the company was in a different friendly O & G southern state and it was a different situation for common shareholders of common stock.
From a common shareholder viewpoint, to date, since the acquisition of the Kern property- at first it was an ok, on the surface, type of promising potential- to over period of years - it just petered out with not much communication over years. There was a stock promotion about 11-13 years ago I think - not sure where PPS went up in .30 range for a bit.
But other than that- this has never really taken off. It’s been dying off, stretching back years ago, in the PR department - not many -without hardly anything positive movement in pps that’s sustained yet. Charts tell a story.
You just have to when you look at DBRM, understand the operating of the company and how they do things. It is not for everyone as an investor. They walk to a different drum.
Now - as on O & G- is there a little potential from an extremely small producer - yeah somewhat. I don’t think this will ever be a $10 stock or upgrades to any higher exchange at least anytime soon that is.
Might very well always be on OTC, and may never pan out either. I think there might be a little upside potential someday - in range of .10-.15 if they actually can execute. Maybe higher later - but I don’t see how they can get the pps up considerably to .30-.50 range, by a drill bit without some form of RS and positive news.
So I suspect common shareholders are bored and ran off out of here, I’m very wary of all of the potential of a future RS. I suspect, imo, that’s why this place is and has been a morgue for years. We’ll see. Has little upside, but maybe not much as one thinks or imagined can occur. We just don’t know.
Let’s say they get permits - ok they finally announce they drill, and it wakes up-a tiny short amount in pps and time, then dies off again with zero PR’s - well how will filings look as a going concern? They have debt and operate in perpetual neg in filings.
I just think this pps, I’m surprised it’s still around and trades at even .02 I’m very surprised it’s not sub Penny at times. Wait snd see on that LOL.
We’ll see - had potential many years ago - maybe still has a slight potential for something to actually come of this. Just drilling a few wells won’t imo create anything here long term green growth for Penny stock shareholders - without much sustained trading volume and lack of new shareholders interest- we will need more activity that we’ve seen in 12+ years to say ok, they finally did it.
There is potential upside, opportunity to grow geo regionally and actually grow in reserves - which could increase value to stay in this for a common shareholder. However/ they need to actually execute to do that and keep BUSY doing their part- for that to occur.
To be a common shareholder here- is and can be a very slow walk and I have compared it personally, at times is if i can imagine myself driving down a road seeing a very old man on side of street, with a walker, barely moving their feet. You drive back by 5 years later, guy still in same place.
But imho, this company might be better off in a friendlier O & G state besides the companies footprint to stay in just CA. Looking at current stock price - I think that spells it out for a shareholder/ things need to change.
