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

To: Sharp_End_Of_Drill who wrote (12567)	8/30/2002 3:57:10 PM
From: jim_p	Respond to of 206338

har har har. Only kidding about having as much as Moe, but I'm now a 1%er. PGO's opportunity is, will the banks call the debt??? They have the cash flow to pay all the non bank debt, and if they sell Atlantis they can also pay off $175-$250 of the bank debt. The odds of the bank pulling the plug and taking a huge loss on top of all the other large losses they have this year from other companies that are deteriorating is so small that it can't even be measured. PGO was worth $8 when VTS made it's first deal a year ago. Since then, PGO's cash flow has increased 43%??? Go figure. PGO is selling at .17X cash flow. That's correct, it's 17/100. Cash flow is $4 per share and 2003 EPS .51 or just about 1X EPS??? Sector improving. Cash flow up 4% in 2000, 24% in 2001 and 43% in 2002. PGO has invested 2.8 billion dollars to help improve future earning when the sector recovers. That $28.00 per share in net invested capital which they have yet to fully realize the potential from over the last 5 years. If a Norwegian investor buys 10% of the common, it's in the bag. I called the company and they told me he did not buy any of the bonds. That's say's a lot. When do you think you will ever see a company selling a 1X EPS and .17 X cash flow with improving fundamentals, insider buying, new investor buying 10+, selling for 1/13 of what another public company offered when the cash flow was 43% less???? This type of opportunity comes only a few times in anyones life time. Since this is the end of the Q, I'd buy all you want today. It closed 10% higher than I paid in Oslo. Jim