Looking at Herman's money in SNR more than 2M shares at $11 each.. (he's still director or chairman there in SNR).. SNR seems to be expensive by the way...
buying PYOL for $3-$4M is like a pet project for him but I hope he is serious about this business and will hopefully be successful.. he might be looking for a challenge too in PYOL...
I don't own it for now (as I usually don't like oil stock though Cramer likes it a lot) but since RZ mention about it I have been monitoring it...
definitely an interesting transaction for Mr Herman... and very puzzling...