Petrominerales Ltd PMGLF

RE: Production Numbers

[maxleverage]

It is even more disguting when you figure over the last 18 mo they have blown $1.2 B on capex ($1.5 B, but the $300 M on the pipelines I like) and found negligble oil.   How do you let a management blow $1.2 B and not hang them for finding immaterial oil?   Board - HELLO? ARE YOU SLEEPING?

The problem is the PMG team are all Petrobank people.   Petrobank still has its claws on this pig.   I hope someone makes a bid, the risk is that with the shareholder rights plan, Corey Ruttan may not let it be sold for $12-13 per share.