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Gold/Mining/Energy : Big Dog's Boom Boom Room

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To: Darth Trader who wrote (12466)	8/23/2002 11:45:33 AM
From: jim_p	Read Replies (2) of 206330

The book value has no meaning. There are no buyers for the assets so the only value is the cash flow they produce. There is an excess of world capacity in the seismic sector and the only way to create value is for someone who is already in the business to buy PGO and reduce some of the competition. I don't believe any service company who is not already in the business would have any interest in buying PGO. With new management and a debt restructure, PGO should be worth at least $2-3.00, which will happen. This is why I bought. The next issue is what will the new investor want to do with it once the above is accomplished??? Maybe sell it for $5-8.00 as originally planned??? Jim

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