NYSEAM:PLX - Post by User
Comment by
ohbehaveon Sep 05, 2019 4:28pm
230 Views
Post# 30099788
RE:RE:Keep the good news coming
RE:RE:Keep the good news coming
Frankly I'm not a fan of selling what appears to be a good asset that's adding production and cash flow with every new well but when the market isnt there to access capital a management team needs to do what it believes must be done in the best interest of its shareholders. Given the companies understanding of this new play and the fact they claim to have several other similar prospects to develope, one would hope management believes it's better to cash out of this REX play (at the right price), lose a partner that's likely pushing to do more than they can afford at this time, then pursue one of the other similar bypassed pay opportunities in the portfolio. That being the case, if your glass is half full not half empty, one could argue that as shareholders we should take comfort in the fact they understand the Mannville/REX play well enough that they're prepared to sell the "bird in hand" and focus on "two in the bush" so to speak. All I know for sure (and what I've said before) is that unless/until Canadian federal politics change the traditional market for junior O&G is broken and all the chatter on this board predicting and finger pointing about the stock price is irrelevant. The fact that the PLX stock price has dropped by 50% since early June on less than 1MM traded shares (only about 1% of the float) means nothing and given any real interest the stock price could go the other way quickly. There's no "trade" in this stock it's a buy and hold and those trading a few hundred shares need to find a different playground while the longs that understand this market (or lack thereof) need patience. From thier vast knowledge and connections, if the "all wise" posters that spew nothing but negativity truly know this is a terrible company headed for bankruptcy then what is your purpose in posting here? Contribute something of value or move on because despite all the prognostications and doomsday predictions the news has actually been (mostly) good of late.