Pacific Energy & Mining Co (PEMC)

[lytnup]

Unfortunately, neither the company nor the stock has performed (to the benefit of common shareholders) when oil prices have risen in the past.

IMO the company should be shopping a sale of their assets when oil prices are high, to either domestic or foreign suitors.

There is no benefit to shareholders if PEMC's oil is simply pumped out of the ground bit by bit. That might benefit a few (salaried employees of the company?), but it hasn't done anything for the bulk of shareholders in the past three years.

I wouldn't hold my breath for that $1.00......