I would hate to burst your bubble boys, but before you get to far on promoting this puppy, let's get some facts on the table;
1 - I have a Yorkton Securities report that puts the value of the Palo Blanco Field on a Net Asset Value per share of Parkcrest between 1.60 to 3.11.
2 - Ecopetrol, the state oil company has the right to back-in for a 50% interest upon a commercial field being declared. Should they make this election the NAV per Parkcrest share is only $ 1.60.
Now there may legitimate reasons why Ecopetrol might not make this election but risk of them making it will be there until after the field is declared commercial.
3 - Show me some proof that the institutions are buying this stock, I haven't seen any published reports as of yet.
As with any stock investment/speculation you have to assess all the risks and rewards, and my experience in international O&G exploration is novice at the moment, but I can't see the stock trading much higher until more favourable news comes out.
It my prove a good exercise to get more information about this stock ;
1 - What are the current Q1 cash flow, earnings, debt levels, production levels, revenue, etc..
2 - How many shares, warrants, stock options do the officers and directors of this corporation currently own ?
3 - How soon will they need more financing (stock dilution) to keep funding their share of drilling in Columbia ?
4 - A list of all their properties, total dev & undev acreage and JV ageements ?
The last thing I need is someone telling me the stock is up another xx cents and I missed the last train, put some good information on this thread and then lets see where this stock should be trading.
Just my opinion, good investing |
