Petrominerales Ltd PMGLF

PMG Results

[oilwatcher13]

Wow, these guys really couldn't find oil at an Exxon station.... more abandoned wells and continued mis-management. Heads need to roll starting with the CEO and Chairman of the Board.  John Wright has lost so much of the retail investor's money invested between PBG, PBN, and PMG it should be a crime. 

Corey Ruttan and John Wright need to start a strategic review and step aside and let someone cappable take over this company IMHO.

[oilwatcher13]

Andrew McCreath on BNN called this company a disaster, spent 40 million more on exploration in 2012 and had 4 consecutive quaters of decline in production and a 20% decline in 2P reserves. Does the Board of Directors have a fuduciary duty here? Hopefully some institutional investor will challenge the mis-management of this company to remove the management or the BOD.

[NightowI]

This post has been removed in accordance with Community Policy

[Uchuva]

A House of Cards continuing to implode. We are a long cry from historical forty thousand barrels per day. Strategies appeared to have failed miserably. Now at 22 thousand barrels per day and goofy money being spent in Peru this company is at high risk. Of course the previous success on luckier than S house luck ten thousand bbl a day wells has obviously ran out for good. Prospects have failed