Kenny,
It didn't make me change my mind. This company went from 25M to 50M and all they need to get to 100M is "management" approval. While they went from 25,000,000 to 50,000,000 shares, BPD went from 150-250 to 150-300. If that means that for every 25M shares BPD will increase by 50 then this stock belongs in the trash--NOT in my portfolio. It seems to me that management or "management" cares more about playing with as many shares as they can while acquiring nothing but ghost towns. I don't care about any reserves. What I care is $$$, the bottom line, EARNINGS! Earnings come from selling oil, not from having many shares.
They told us that by January we should know more. There could be two options: A) It's only Jan. 15 so I may just wait until the end of the month. B) Did he say 1998?
Non of you may know this but just before the ex-pr was let go I called them and expressed my frustration that for the past 3 yr. BPD was always at "150-300." (He gave me a grumbling answer as "call mngm., I don't know, what can I tell you, I know what you mean." [The conversation lasted about 5 minutes]--I have sensed that even a pr can run out of "great" news.) The stock was trading at .60. Now it trades at .04. Did I see the signs? You bet I did. But I have decided to ignore it.
A mistake is only bad if you don't learn from it. At least I can say "Been there, done that" so I may avoid others from making the same.
BTW, Why did "they" (who ever is in charge) "pay" (can you call Oilex shares as pay?-oh yes, there's some value in them--.04) Allen Jones to act as a pr? Who needs a pr? Don't you think that by simply bringing up oil production the word will spread, the stock will rise, NASDAQ will be home, and they will live happily ever after?
Farewell,
Marty |
