and still we go no where... as it turns out a great hedge against PXT would have been to buy stock in Raymond James. Over the past week they have accounted for 60% of the sales and over 30% of the sales for the past month. until what ever fund/institution is done dumping this dog this stock is dead in the water forever closing hard on its lows.
I still have to hope that the next release will show that we are over the hurdle on the declines. Hopefully management will be announcing production of ~12,000 boe with the new wells that were brought on earlier this month.
Would be nice if the IR team over at PXT would give us a steady stream of news rather than bundling all the information togather in a quarterly release, perhaps than buyers would return to the stock if they are more often reminded of the story that is developing. Rather we just get the Q/Q bombshell of what the decliens has been over the past 90 days.
Bottom line, this company is cheap, really cheap. next years cashflow will be close to 50% of its current market value, at these levels PXT has to be a take over target. Any aquire that wishes to tuck this asset into their portfolio will be buying PXT with thier own money.