Palliser Oil & Gas Corp. PSLRF

RE:now we know

[hawkowl1]

I took my lumps in this one today. This death spiral  was signaled a while back but I
ignored it like a lot of other investors. Issuing paper at lower and lower levels was not  a good sign.
With annualized cash flow now at $8 million and $46 million of debt they are done like dinner.
Too stubborn to put the company up for sale early this year they now risk bankruptcy.
Perhaps they can make a deal and salvage some value around .18 cents or so..who knows.
I doubt that they can turn this around.

The bank will cut their credit limit without a doubt.
Lesson learned. I probably lost more money this round of holding PXL than I made in previous years when times were good.
I do hope I am wrong here and current shareholders can salvage their investment. If it rallies towards  .45 cents next year I say good for you. 

I just lost total faith in this management team. Adios.