AI
Wednesday, November 12, 2003 10:40:36 PM
PLLL has a good chart and they are getting publicity. So you could possibly make some money. I do not think it is an especially great company. First their CEO is Thomas Cambridge who is 66, weren’t you the one who bitched about Calentine who is younger being too old? Hmmmmmm?
They have been around for 14 years and are listed as a Micro-CapOil & Gas, What’s with that?
http://host.wallstreetcity.com/wsc2/Autoflag.html?Button=Get+Story&DB=SQL&SID=302p5423&S...
C. K. Cooper & Company gives them a short-term, long-term buy rating.
Parallel Petroleum (Nasdaq: PLLL) Buy Buy
Yet Cooper goes on to say: “The long-term trend for Natural Gas remains quite positive, although the price environment remains extremely volatile. As natural gas prices drop, we are seeing extreme profit taking within our peer group. It is our opinion that those moments provide investors with an ideal entry point to accumulate positions."
But according to MULTEX pproximately 80% of its proved reserves are oil and approximately 79% are categorized as proved developed reserves.
MULTEX ABRIDGED BUSINESS SUMMARY
Parallel Petroleum Corporation is an independent oil and gas exploration and production company. Its primary business is oil and natural gas exploration, development and production, as well as the acquisition of producing oil and gas properties. These activities are concentrated in three core areas: the Permian Basin of west Texas, Liberty County in east Texas and the onshore gulf coast area of south Texas. The Company's proved reserves were estimated to be 10.27 million barrels of oil and 15.63 billion cubic feet of natural gas as of December 31, 2002. Approximately 80% of its proved reserves are oil and approximately 79% are categorized as proved developed reserves.
For the third quarter of 2003, Parallel's sales were 158,335 Bbls of oil and 895,216 Mcf of natural gas, or 307,538 BOE. Divide that by 90 days for the quarter and you would get approximately 3417 BOEPD. Am I missing something because after 14 years I think it should be more?
Maybe there is a buyout or another acquisition on the horizon. This is only a quick scrutiny. I do not think this is a terrific company but according to their chart you might be able to make some bucks.
They have a presentation on their site but my computer locked. That might be good to read.
By the way another company I am invested in has already beat them in less than six months. Talk to me in a year.
I posted a blurb about them before.
http://www.investorshub.com/boards/read_msg.asp?message_id=760981&txt2find=plll+
They have been around for 14 years and are listed as a Micro-CapOil & Gas, What’s with that?
http://host.wallstreetcity.com/wsc2/Autoflag.html?Button=Get+Story&DB=SQL&SID=302p5423&S...
C. K. Cooper & Company gives them a short-term, long-term buy rating.
Parallel Petroleum (Nasdaq: PLLL) Buy Buy
Yet Cooper goes on to say: “The long-term trend for Natural Gas remains quite positive, although the price environment remains extremely volatile. As natural gas prices drop, we are seeing extreme profit taking within our peer group. It is our opinion that those moments provide investors with an ideal entry point to accumulate positions."
But according to MULTEX pproximately 80% of its proved reserves are oil and approximately 79% are categorized as proved developed reserves.
MULTEX ABRIDGED BUSINESS SUMMARY
Parallel Petroleum Corporation is an independent oil and gas exploration and production company. Its primary business is oil and natural gas exploration, development and production, as well as the acquisition of producing oil and gas properties. These activities are concentrated in three core areas: the Permian Basin of west Texas, Liberty County in east Texas and the onshore gulf coast area of south Texas. The Company's proved reserves were estimated to be 10.27 million barrels of oil and 15.63 billion cubic feet of natural gas as of December 31, 2002. Approximately 80% of its proved reserves are oil and approximately 79% are categorized as proved developed reserves.
For the third quarter of 2003, Parallel's sales were 158,335 Bbls of oil and 895,216 Mcf of natural gas, or 307,538 BOE. Divide that by 90 days for the quarter and you would get approximately 3417 BOEPD. Am I missing something because after 14 years I think it should be more?
Maybe there is a buyout or another acquisition on the horizon. This is only a quick scrutiny. I do not think this is a terrific company but according to their chart you might be able to make some bucks.
They have a presentation on their site but my computer locked. That might be good to read.
By the way another company I am invested in has already beat them in less than six months. Talk to me in a year.
I posted a blurb about them before.
http://www.investorshub.com/boards/read_msg.asp?message_id=760981&txt2find=plll+
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