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.

Gold/Mining/Energy : Big Dog's Boom Boom Room -- Ignore unavailable to you. Want to Upgrade?

To: Darth Trader who wrote (12466)	8/23/2002 11:45:33 AM
From: jim_p	Read Replies (2) \| Respond to 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

To: Darth Trader who wrote (12466)	8/23/2002 12:25:14 PM
From: upanddown	Read Replies (1) \| Respond to of 206330

Darth I can't really agree with Jim that the book value is totally meaningless. When a share is selling for .76 and shareholder's equity is 1.343B or 13.00 a share, there has to be some asset value there. No buyers yet for what they would like to peddle but there must be potential buyers out there. Probably a lot of fluff in the valuations from over-valued FPSOs, data libraries, goodwill, etc but even if you reduce the equity by 50%, it is still 8-9 times current share value. I'm hoping the new guy buying in sees it as a asset play. John