OTCPK:BLKPF - Post by User
Comment by
oilismoney1on Apr 07, 2015 8:09pm
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Post# 23606588
RE:PXX SP
RE:PXX SPHi Alta, just my two cents worth.
In my opinion there are two things waiting down PXX
1) There share structure dictates that any more shares issued would take it to the point of no return ( as far as dillution goes)
2) Many investors still remember Southern Pacific Producing 10,000 barrels per day and were involved with the sagd. Couldn't play with the big boys and lost there shirt. ( sagd is not for the small producers) minimal netbacks ( at best)
3) 2P reserves mean nothing if you don't have a positive netback.
I would be a buyer if oil would recover to at least $80 per barrel and a 1.25 canadian dollar this year (2015) And I also will wait to buy when the share price can get over $2 and above.
Or it goes to Zero in say 2017