GREY:LSTMF - Post by User
Post by
CravenRaven101on May 24, 2011 10:03am
565 Views
Post# 18617045
management shift
management shiftLooks like someone on PBN's management team is reading this board... In any case with the recent shift in management I would definitely rate PBN a BUY at these prices... however I would suggest that PBN hasn't the capital to take advantage of the latest land "rush"... after all that is, in part, what has caused the growing pains to begin with... IE chasing after a land position well after the cat has gotten out of the bag... in this instance...I would have to say... that not only is the cat out of the bag with respect to the newest play... but she's well on her way to having a litter...
WHAT PBN needs now... is a small dedicated group of explorers, exploitationists, geologists, geophysicists to begin combing over historical data to identify an undeveloped or underdeveloped, play... so they can begin amassing a land position before the rest of the street is talking about it...
Another "need" is to understand that Partner, WI, Farmout, are NOT dirty words... having a WI... NOT only preserves cash flow... it takes advantage of another companies resources...
anyway...I congratulate managment on making ONE tough decision... NOW make that "other" (reduce dividend) decision and PBN could actually meet its price targets (related to the debentures) by the time the Debs become due.
it's MY opinion... git yer own...