Petrus Resources Ltd T.PRQ

PETRUS SHORT?

[vocex1]

We had 2 good press releases just in the past few days, the inclusion of PRQ in the Top 50 OTC group, standards for inclusion were excellent growth and sound financial status.
Then, the monthly report from CEO showing that PRQ met the production goals @ approx. 10,500 BOE/day as had been forcasted, with more production coming on line in January.

Since the shares hit 2.50cdn it has been straight down. I have watched the trading activity on level 2 on the TSX and also OTC for the US listing of PTRUF and there has been some strange trades. Especially what appears to be 'spoofing', where, as the shares trade down of few pennies, a large block for sale, e.g. 25K to 50K would suddenly appear, at a price just at or above the current asking price. Then, the offer would quickly disappear.

On the US/OTC market, I have seen offers to sell large blocks(relative to daily trading volumes there), they also come on the market and often disappear. Such as 10K-15K shares offered when the day's trading is less than 1 thousand shares total, what?

Even as NG prices in the US markets have fallen off, with warmer than expected weather in January, crude pricing has stablized in the 80's for WTI,  so fundamentally there does not appear to be a driver for a sell-off of such magnitude. Today, off 8+%.
Volume on this selloff has been anemic, I suppose that is a positive, lol.

Petrus seems to be executing well, and as projected, but shares are now trading below a 1.00 price to earnings ratio, I believe. Hard to say what all this means, but my sense is a short attack was launched around 2.50 price and has been successful, however, with the volume of trading so low, does not seem to be worth the effort.

Personally, I have been adding to my already oversized position in Petrus on both exchanges and have reduced my average share price considerably. I have confidence in the Grays/Petrus team. The value of the enterprise will eventually work out, I assume. As Buffett famously said, "The market is a voting machine in the short run, and a weighing machine in the long run." GLTA

[graffiti99]

I know. Totally weird. Amazing value at these prices. Happy to invest alongside the Gray family

[Seppelt]

It is frustrating to see significant increase in production, when new wells are at their highs, coinciding with a collapse of national gas prices. Yes, most of the revenue is coming from oil and NGLs but gas is also important.  My feeling is that this stock, and natural gas prices, are close to the bottom. The weather is unpredictable but Freeport is on the way to full recovery, it's