Petrominerales Ltd PMGLF

Re: Lack of News

[oilwatcher13]

The lack of a news release regarding mid november results indicates this management does not care about shareholders and the decline in the share price. Shareholders need to start contacting IR to try to light a fire under this management group and the BOD.

[oilwatcher13]

These guys will have to anounce the dividend by the 15th of December with an ex divy date of the end of December. Let's wait until the last minute guys?????

[maxleverage]

Dena Southas (IR) is nice enough, but she really will tell you nothing.   She will just point you to info on the website or filed on SEDAR.  

[pokerbeeks]

i also spoke with Dena and she didn't say much either.  The only thing I got was that they are over 80% finished their NCIB which one could have figured out with some simple math.  

[pokerbeeks]

  Dena (IR girl at Petrominerales) got back to me about the NCIB.  They stopped buying shares on November 20th because they had hit their limit for the 2012 year.  They plan on resuming purchases in the new year to finish the NCIB that was put in place last may.     By my calculations, they have approximately 84.5  million shares outstanding currently. 

[maxleverage]

Let's hope they keep buying back the convertible bonds then in the meantime.

[oilwatcher13]

This management are the only interested parties to buy this stock, since they discontinued the stock buyback the volumes are very low. I thought they were an oil exploration company???? OK guys, let's drill for oil instead of buying back stock?? Management has no credibility left in the Canadian market !! Corey Rattan and John Wright are milking this company while shareholders loose 50% of

[maxleverage]

Oil - I am disguted as well by this stock's performance.   Any other Columbian oil co except CNE would have been MUCH better.  BUT, if they hit a big well next year (Canatua?, others?), then buying back all this stock now will in hindsight be very prudent.  The key is they need to maintain a reasonable level of production to fund drilling / exploration, the divi and the

[oilwatcher13]

They announced the dividend but not a word about mid November drilling results??. Is this management even capable of finding oil in Columbia? Certainly not in the last 18 months? Shareholders deserve an update on production and drilling results before the end of the year !! Or are these guys content to draw their big salaries and take the rest of the year off because they deserve it ?