As I have posted before I don't think TOR will see his family's best chance of redemption bankrupted over his own salary.
I think a deal is been negoitated. I know no more than that as that is all we have been told by PVR. PVR have an asset. The lenders to PVR believe that that asset can be monitised or else they would not have lent to PVR. That situation hasn't changed. I think that with an asset that is worth billions PVR are good for a small loan.
The debt is minimal spuddy. 20m of which only about 5 is spent. Its not repayable till summer anyway. No hurry between now and then unless you need to sell your shares! Otherwise just wait for a good deal.
Its just feeding itself but should bounce back with any news or even small support of the company by shareholders with buys
There has been no update from the company. Global oil prices is the only thing that have changed. I think the sp is working on expectations theory. Small shareholders worried. No appetite to buy and so when you see the price drop like this you think you have to sell as someone knows something etc
Just finding this fascinating to watch. I haven't seen anything so undervalued by the market in a long time, But to keep your sanity why not look at Smurfit Kappa as an example of crazy pricing. At one stage in 2008 it fell to a euro a share and stayed below 10 a share for a few years before going back to the high teens. Nothing really different other than global forecasts etc
The sp will bounce back by the end of the day as someone will be buying up the shares at this price in 50k groupings.
Look at the volume. Its all the little guys worried selling out or selling a portion of their shares etc and partly because of the few consistent posters knocking the company with the same miss information.
The exploration costs on those areas are pretty minimal, I looked at the cash position and 1. We do have a loan drawn down but the majority of it is still in the bank. The salaries are concerning a lot of people but I don't think TOR would risk bankrupting his Dads only chance of getting his reputation and fortune back over a 500k salary. So it isn't as bad as you might think.
I would like to think we would but I have no clue. The whole oil industry is down on sp so I don't see how Pvr could have avoided this recent drop but as I think you said last week the oil per barrel price can't stay this low for long as nearly every oil producing country is loosing way too much money.