An awful lot of emails and blog comments on PELE at the moment asking for opinion on the above. Some emails/ blog comments blaming posters for ramping.
I’ve gone through as much as I can in a limited time but need to say that responsibility for your investments rests with each individual, blaming chat site posters or anonymous Blogs; (obviously not mine) isn’t going to help.
I really can’t see what all the fuss is about on the whole I think that the results are very good. Yes the Colon news isn’t encouraging but I get the distinct feeling that this has been over-cooked partly due to the expectation built up over the last few months or so. Petrolatina are a fully producing oil company with many varied interests. The sp fall will eventually level off, if it hasn’t already, and I do see a return upwards. Oil is always fraught with highs and lows this is just one of them and soon enough it will be water under the bridge. Increased profit and increased BOPD will eventually begin to be recognised here. Don’t forget that there has been some dramatic rises in many oilers over the last few months and maybe this has had an adverse effect in magnifying Pele’s lack of progress on Colon.
I wouldn’t worry about the direction of this company as it is sure to pick over the next 12 months or so like all small oilers they will have to bottom out as the market continues to crumble as Global meltdown continues it will take time; later rather than sooner here.