PEC.v/PNRXF
Used some of my MMT divy cash to buy a modest PEC position between .07 and .075 a few weeks ago. PEC recently partnered funding for a pre-salt well which will spud in late August. Might see a pop on the news of spudding, but with Soros gone shares should be in tighter hands. At .07, this one is priced for failure, and to date, deservedly so. One bit of decent drilling news validates the company's vast holdings, much of which, as you've said, have 3D seismic already in the bank. People expected more by now, but that doesn't mean the goods aren't there.
Used some more divy money to load up a bit of ZEX.V- very similar story to PEC but in a different neck of the woods. Lots of cash raised (better than $20 million still on hand) and options priced wayyyyyyyyyyyy above the current PPS. And lots of dumping by institutional investors to bring it to its current .035. 10 million shares traded today. Could be the beginning of a rise off the mat.
Both are longshots to be sure, but then again, so was MMT not too long ago!!
