Petrominerales Ltd PMGLF

GROWTH

[micromega]

Hopefully PMG.TO will return back to growth soon and its land will prove to be more oily in the future without any dry holes.

The latest article in SeekingAlpha about the Colombian plays implies that PMG is not so cheap as other Colombian plays like CNE.TO or CAAEF in the US-markets.

https://seekingalpha.com/article/914201-this-oil-producer-is-a-must-know-company

However according to this author, Colombia has a very stong upside potential so maybe PMG.TO is luckier in the future.

[soberinvestor]

As we see below the company you praise is just an exploration play. PMG besides that is a senior producer with coffers full of cash baying back its own shares. It can afford once in a while dry hole in oppose to penny stock you mentioned that may be finished off based just on one or two dry disappointments. From my experience there’s always reason a penny stock is a penny stock. You should IMO

[bladerummer]

You sure thier not SELLING off thier own shares. This dog is at 5 year lows and no end in sight. Should name it Petromiserales cause thats what investors got stuck with.

[soberinvestor]

There are no reports of insider selling this year on mandatory SEDI register. They were selling last year for a lot of more money. Company is buying back vigorously for cancellation. Since this stock took a considerable dive since last year I presume some early year end tax sell-off allows PMG to scoop up considerable amount of shares on the cheap. Those who sell off early to take advantage of a

[maxleverage]

It sure is miserable. Let's hope the Board and management 's decision to buy back shares (they have continued the daily buys every day in Octobr) is a sign that there are better days to come (i.e. they are not in a desperation cash preservation mode).

[soberinvestor]

Wondering if perhaps Venezuelan election has some psychological impact on PMGs SP. If it does then I think it would be short lived since nothing changed, perhaps could be better business-like in that region but genuinely in same political framework PMG was doing business for years and didn’t stop it to be successful. As a matter of fact Venezuelan administration already pledged to be more open to

[pokerbeeks]

I am hoping that management is continuing to buy back shares this October but how can you know that they still are?  I seem to be only able to find out insider buys by their SEDI reports that come out on about the 5th after the end of each month...   Did management tell you or is there somewhere else you are finding this information?

[soberinvestor]

On Monday they bought only 29k (usually 40-60) and there was a dump down to 7.26. They must be buying more now since SP bit recovered. Wondering if SP can hold above 7 (in this up-comming year end tax sell-off season) should they decide to pull the plug on buy-back. They report once a month. I get the info from TSX.

[pokerbeeks]

Thanks for that reply.  Can anyone get info from the tsx or does the public have to wait until the monthly reports? As for the low buyback on Monday that doesn't surprise me.  They are restricted on how much they can buy back each day in relation to the the daily volume (I believe it is no more than 1/4 of the total volume) which has been light as of late.   Hopefully the volume

[soberinvestor]

As a matter of fact the volume on Moday (day of dump) was at its high rather lately level. I watch buy back every day and that surprised me. They should buy 60k during the dump. They kind of let it go. I kind of stopped trusting that this buy back works for all shareholders. I kind of feel they do someone favours rather than keep it steady. For that reason I don't trust these buy

[maxleverage]

I monitored the buying in Septemer and th INK report showed 40,000 - 50,000 buys per day as "marked trades".  When they filed their report for September, it showed almost 100,000 shares bought per day (I thought I saw in the NCIB paperwork that they could buy up to 178,000 in a day).   Thus, for some reason not all their buying is showing as "marked" (Maybe using

[deisman]

Try the TSX Money site at https://www.tmxmoney.com/HttpController?GetPage=SearchInsiderTrade&Language=en&Submit=Submit&QuerySymbol=pmg&x=0&y=0