Silicon Investor (SI) -- The First Internet Community

STOCKTALK

We've detected that you're using an ad content blocking browser plug-in or feature. Ads provide a critical source of revenue to the continued operation of Silicon Investor. We ask that you disable ad blocking while on Silicon Investor in the best interests of our community. If you are not using an ad blocker but are still receiving this message, make sure your browser's tracking protection is set to the 'standard' level.

Strategies & Market Trends : 50% Gains Investing -- Ignore unavailable to you. Want to Upgrade?

To: Dale Baker who wrote (30878)	8/22/2002 1:24:52 PM
From: Dale Baker	Read Replies (2) \| Respond to of 118717

PGO thoughts: To:Frank who wrote (12390) From: jim_p Thursday, Aug 22, 2002 12:45 PM Respond to of 12400 Frank, Here's me take on PGO. 1. BK is out of the questions since the assets are not pledged. PGO will have no problem getting enough secured debt to retire the debt due in 2003 at good rates. 2. The oil and gas properties will sell at some price, maybe even higher than expected. 3. VTS was willing to pay $7.54 per share in VTS stock back in 11/01 and the only thing that has changed is an increase in the PGO backlog to near record levels and higher profits and cash flow in 2002. 4. The common stock is a very small percentage of the capital structure. 5. My guess is who ever bought 5.4% of PGO yesterday and __% of the 12+MM shares traded today in Oslo most likely was also buying the debt and the preferred stock at a deep discount. 6. At .39-.41, PGO was a gift from the market gods. I only wish I bought 1MM shares instead of what I got. I don't think you will have any problem getting your 2.47 back. My guess is PGO is being sold and they are buying up all the shares/debt they can before they are forced the make an announcement. No one would put $5-15MM+++ dollars in PGO without a plan. Maybe VTS buying for 1/10 of the prices they were going to pay??? Jim