Phoenix Associates Land Syndicate (fka PBLSQ)

[Renavatio]

Del & New PBLS followers (not that you are Del)...

http://www.investorshub.com/boards/read_msg.asp?Message_id=16207147&txt2find=mitchell

http://www.investorshub.com/boards/read_msg.asp?Message_id=16368282&txt2find=pit

http://www.investorshub.com/boards/read_msg.asp?Message_id=17530594&txt2find=pit

You've might have already read them, but I still stand by them. The only change in opinion I have is due to the recent pit acquisition. After my conversations with management, now I believe that Ron probably wanted out of the Pit business having an airplane background but Paul wants to stay in. So while the pit has been represented as 10% of NI, and was supposed to be phased out completely when the Murphy Pit was exhausted, now it looks like they plan on staying in the business because of the growth in their construction biz.

IMO mining these pits is just part of Phoenix's base, but not the primary block that some suggest. I think the other parts of the foundation come from construction, Progas and Best Jets engine overhaul repair. Then above that in the business model is the Lear Jet overhaul/refurbishing. And above that is maybe/potentially other oil & gas revenues, though news has been silent on those areas for some time. So the pit is part of the "core" business, but maybe only 30-50% of NI, and construction and Progas represent the other 50-70% of NI (where Progas shows the big Revenues but has slim margins in the 3-5% range). This "base" hopefully will all add cash to the bank account to allow PBLS to some day go after the more "speculative investments" it has in sight, like deep drilling for oil out west. It's these investments/PBLS businesses that take lots of cash to get going & are the ones that make me see the biggest returns coming in 2008-2010 if things keep progressing they way PBLS claims they are.

Again, just an opinion on things I've developed while digging to get solid information from a mostly silent company. Do your own digging, but IMO not catestophic as some suggest if we lose the pit. The ones saying it are typically the same ones saying a) they don't follow the company any more when in fact they still personally own millions of shares since late 2005/early 2006 b) claim Preferred Shares in the amount of 250M are all outstanding while surprisingly PBLS still has Preferred Shares available for the common exchange hmmmm (and even with preferreds they consistently speak out of both sides of their mouth....and c) that the O/S is 1.5B+, when not a single investor who has certs in hand has a cert that shows the new A/S for common, a sign that PBLS indeed upped the O/S only to increase Preferreds, not to dilute common shares. Hmmm...I wonder why they're so negative all the time? Hmmm...I wonder why they don't claim to own PBLS shares and yet repeatedly post charts, "facts", tongue-in-cheek "opinions," and follow PBLS like a hawk? I'm sure it's because they really care about you and me and want to protect us and our investment. Gee, they're so swell for looking out for me and you.

Don't listen to me. Don't listen to them. Form your own opinion based on the facts we do have. And there are positive facts out there. There are negative facts out there. That's why this is a pinky now and hopefully not in the future...

And like others say, if you buy or sell because of me, you're crazier that I am.

Ren