Parex Resources Inc T.PXT

Hate being that Guy... But I told you this would happen.

[RAWCOLTY]

I told all of you to sell PXT after the eleciton announcment knowing that they would go after the Oil companies...

Too bad for the Country... Socailists always destroy good things!

[tigris72poo]

If they increased your taxes and royalties and told you they won't give out more exploration acreage  what would you do?  Especially if you were sitting on US $392 million and trading at 4x Net Income ? I would keep increasing the dividend and buying back my stock, that's what I'd do.  Until the next election.

[RAWCOLTY]

Unfortunately the Oil business is a zero sum game... PXT can not alter the price of oil by curbing production.... No matter what they do the valuation of PXT uner this Tax profits heavily government leads to a much lower Cash flow which when discounted leads to a substancial lower Market Value. This is an unavoidable truth until a new more Conservative Government has the Stones to eliminate the