Replies to post #1743 on Pilgrim Petroleum Corp. (PGPM)

[SPARK]

You stated earlier, "technicals are my game, not the fundamentals"

I say, then you're one of the lucky dudes..ya knew when to get out and buy right back in..and more importantly therefor you are not emotionally identified with the fundies..you didn't fall in love..you let the chart do the talking..right?

It's a great approach.. :)))

http://www.investorshub.com/boards/read_msg.asp?message_id=11360076

[willie_mac]

I am calling Gustavson again tomorrow and am waiting on a reply from Rafael. Again, you dont hire a company to burn you, remember Pilgrim thought this was good news, they thought that showing investors they have 4 million barrels to work with was positive, the question is why. Eddie and Rafael said last week they expected the stock price to go back to .24, so we need to find out why? Something is missing. Is it 4 million barrels from one area, or 4 wells. If you read the report, it said that 2 out of 3 wells could produce 1 million barrels of oil didnt it. I said that 4 fields could produce up to 4 million barrels of oil over the next 4 years. Well, guess what, the PR last week said that Basic Energy was going to start working on 20-60 wells in four of there more important areas. IT JUST DOESNT MAKE SENSE! Gustavson says "2 out of 3 wells have the capability of producing up to 1 million barels of oil", and "Basic Energy is already working on 20-60 wells in four areas". Go check the PRs. What is the eval on the ohter wells, hell, some are only producing 1-5 barrels a day but the PR on Friday said that "some of these wells are producing 30-45 barrels a day"