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

To: whitepine who wrote (98855)	4/9/2008 6:56:50 AM
From: Ed Ajootian	Respond to of 206325

whitepine, PetroResources (PRC) -- Yes, but it has gone up 5% in the last 2 weeks. This is not what would be expected for a stock whose major owner(s) are getting margin calls. Maybe the lenders for these investors' margin loans decided to wait until the hype show occured, but interestingly, even after the presentation, only enough stock got offered yesterday to meet the bids. The next few days of trading should tell this tale. I haven't followed KOG much but from what I know about them, that is a totally different story than PRC and even after KOG's stock has come down as much as it has, it still trades at a substantial premium to its book value. PRC is not the same kind of animal, and they are trading at only a modest premium to book (market cap $49M, book value $40 M). PRC is not trying to find massive amounts of newly discovered hydrocarbons, they are just taking some old depleted oilfields and using well-established secondary recovery techniques to drain a lot of the oil that is still left behind.

To: whitepine who wrote (98855)	4/11/2008 8:16:52 AM
From: Ed Ajootian	Read Replies (1) \| Respond to of 206325

whitepine, Petro Resources (PRC) -- since your "measure of skepticism" the stock has rallied on massive volume, and then held those gains, also on large volume. Are you still waiting for $.50, and what do you think of the chart now? If you still think it will go to $.50, what event or series of events, if any, would cause you to change your mind? The fact that it held its gains yesterday is a big clue that whoever was dumping stock has now gotten to the point where they don't have to unload much more in the near-term, or otherwise they woulda offerred more shares yesterday. Finally we will get a chance to see where this stock can trade without some big seller constantly raining on our parade.