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Gold/Mining/Energy : Big Dog's Boom Boom Room
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To: jim_p who wrote (12527)8/29/2002 3:24:59 AM
From: nspolar  Read Replies (1) of 206110
 
jim_p, fwiw:

I think the Atlantis sale may have fallen through due to unacceptable payoff (bribe) demands from the princely princes. No heat now, the potential value of the bribes went in the toilet. Likewise Sino also lost bargaining power. Depending on POC the value of Atlantis may go up. Time for now is again on PGS's side.

I also think it possible some behind the scenes work is going on in Norway, to keep PGS as a Norske firm. From personal experience (w/o explanation) I know this is possible. RM was forced out and this was a local behind the scenes decision, more than likely. The reason was that the local environment had lost total faith in RM and his toadies. It took a while and the stock price had to sink to nothing for this to happen, but happen it has.

I also tend think PGS may now go it alone, and VTS needed them more than the opposite. I don't see any reason for PGS to sell out cheap now. As a shareholder of a bunch of .40 USD shares I wouldn't necessarily go for it. In short I don't see PGS has much to lose if they do go it alone. Additionally the shareholder with the most power by far is now local, and he apparently didn't buy in at 5 bucks. If you believe what he (UMOE) stated he did not buy in to sell out for a quick profit. They bought in to resurrect this company. Right now I do believe that.

Futhermore it is possible for the Norske Olje Directorate to assist PGS, in behind the scenes action. I would not be surprised to see PGS obtain more small field licenses. Just the way it works in Norway. Doesn't have to happen, but surely could.

Time will show.

jmho.
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