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Strategies & Market Trends : Value Investing -- Ignore unavailable to you. Want to Upgrade?

To: Paul Senior who wrote (50882)	5/7/2013 12:08:38 PM
From: Paul Senior	Respond to of 78751

BWN.v - penny stock ($0.06). It's cigar butts on the ground like the these that I wonder if I should just walk by. Well, it's a real penny stock -- so that stops a lot of possible buyers. And the company's got cash which they likely will deploy to try to buy/ find/produce oil, and so their expenses will deplete cash. And they are a tiny company, so if they spend cash on a couple of wells or more land and they don't commercially produce, maybe the company is toast. Still... the market cap is $7.8M. They have maybe $10M in cash, no ltd. They just announced Petrominales will pay Brownstone $US $ million in cash for an interest in one of their oil concessions. The press release also says, "Following the sale of its interest in the Canaguaro block, Brownstone will continue to hold its private participating interests in two other blocks in the Llanos basin of Colombia - LLA27 and LLA 36 - and its option on block LLA21." So in a few days, BWN will sell for about 1/2 of what's in their cash register. A stock buyer gets that and the rest of the business for free. finance.yahoo.com I continue to add to my losing position. Now if the company just would only use their cash judiciously.