PTLD....Dan...short story is new, aggressive mgmt in place now and they are already reaping rewards for the company and the shareholders...first read this pr-
biz.yahoo.com
That is excellent news with profits predicted by the 3rd qtr...in part they say-
Petrol Industries' recent change of management has resulted in a newly appointed Board of Directors whose main objective is to increase yearly revenues with a forecast of profitability by the end of the 3rd quarter.
The Company also announced that they are finalizing a contract with a mid-sized operator who will be using Petrol for all of its oilfield services. In addition, Petrol is in the process of expanding its equipment line with the acquisition of an additional drilling rig, pulling units, trucks and various downhole tools and parts. With the completion of the acquisition, Petrol Industries will be one of the largest contract service providers in the area.
Management was quoted as saying, "Due to the demand and higher energy prices, there is a severe shortage of oilfield equipment, pulling units and drilling rigs along with a lack of skilled labor. Many current lease owners lack the equipment and skilled professionals necessary to service their wells, therefore, are seeking independent contractors. Petrol Industries has had a reputation of having the expertise to handle such demands and the current market conditions are in a position to capitalize on it. By focusing on oilfield services, the Company is line to achieve a steady flow of revenue immediately."
And then almost immediately they deliver-
biz.yahoo.com
As i mentioned before this one contract alone will change the dynamics very much to the good...and they state there are more contracts on the way. At this price I have been buying yest and today for a near to med term hold as things develop. The pressure/leverage of having so few shares out...2.8m, declaring on less...2.4m, and much less than that in the flt...maybe 500,000...will result in the kind of upward pressure you want when we get good news on contracts and then earnings...these kinds of plays are my bread and butter..changing situation, new dynamics, and still a very low price as the company is unknown. |
