RXGATOR,
I apologize if you feel I am being cynical, but I have been waiting for over 3 years for PPTL to get oil out of the ground. I have listened to Bruce tell others and me about multiple pending financing deals. Then, when none of them came to fruition, he talked about how these deals were just too dilutive. Well, guess what, we have been diluted and still we have no financing. Seems like the shareholders were screwed again to me.
I have watched my investment dwindle down to less than 1/15th its original value. In hindsight, I should have dumped all of my shares when the stock was at $0.01 per share, my bad!
Yes, at one point I was a true believer. I thought Bruce could do what he said. Time and continued failures have proven both of us wrong. Sorry, but I have little faith that Bruce will make any money for his shareholders. Personaly, I’d be happy if I could recover half my original investment. I am hanging around for any kind of rebound and then I'm out, done, fineto.
I don't know about you, but if I were trying to raise money and I had a "tiger by the tale" then I would clearly communicate to perspective investors and shareholders the total projected gas and oil reserves. Again, nobody knows or can interrupt that from the latest balance sheet. Why not scream you have potentially $250 million in oil reserves if it is true. Don’t you think that would attract some investment monies and bolster share prices?
I do give Bruce props for not bleeding the Company dry. For nine months ending September he has only spent $20K in T/E (ice fishing perhaps), and another $12K in Professional Services (wonder what kind of Professional).
Anyway, I wish you nothing but the best in 2009. I still “hope” that Bruce can pull a rabbit out of his hat, or at least a few barrels of oil out of the ground.
Cheers!
Greg
