GREY:VFGGF - Post by User
Comment by
sellthefarmon Jan 14, 2015 7:35pm
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Post# 23320790
RE:PNCGF @ .007
RE:PNCGF @ .007Would you rather it be at $0.00000?
I own a ton of shares in PRY and am resigned to the fact they are worthless. In this market with oil where it is the bank is not going to extend the facility, which means its going to be due in May. Thats why it traded at .007 on the pink sheets, not manipulation.
No E&P company in the region of PRY has cash to buy their assets, and why would they? They'll be able to get them from the bank on the cheap. Only thing that will result in common shareholders getting anything here is if the bank works with the company to sell the company for enough to cover the debt obligations and hope there is some left over. I would not be saying this had oil stayed at $80 but things have changed since September. This company won't exist shortly and I among a lot of other people will lose the entire investment in it. The company has its presentation being "updated" right now so I'm guessing we'll get an update soon. And I don't expect it will be anything but bad.