and in order to educate the uninitiated poster on this bb, the BOD of PMG has for some considerable time, stated that its primary aim is that of focusing 'laser-like' on the exploration, extraction and commercialisation of its gas prospects and reserves both within the Southern North Sea, along with those contained within its prime Netherlands acreage position. To that end, the company has and continues to successfully implement, execute and deliver on its aims and objectives and as previously stated by the BOD, in so doing, is set to treble its gas production by the end of 2016, along with that of its corresponding revenues.
Despite the turbulent times which have befallen the Oil Industry as a whole, PMG remains extremely well capitalised with significant cash reserves at it's disposal. In addition and unlike the vast majority of its peer group within the Oil and GAS Industry, PMG has a first rate and committed Management Team with a pedigree and proven track record in successfully generating significant shareholder value (a quick search re Dana Petroleum will corroborate this fact) and is headed up by one of the industry's highest regarded CEO's in Tom Cross who, in conjunction with his wife Linda, has invested significant amounts of his own capital in ensuring the future success of PMG on behalf of its many Institutional and Private Investors.
In conclusion and whilst the sp and company's corresponding market-cap is presently languishing at the lower end of shareholder expectations, partly attributable I believe due to a lack of clarifying news-flow on the part of the BOD, the fact remains that, imo, PMG offers tremendous upside potential to the patient and astute investor over the course of the medium term and I stand by my adage: "Trust in Tom and his team, for in Tom and his team you can trust"
its better to sit on your hands. Perhaps PMG is riding this out the best way they can, without going on a buying spree and resultant dilution of shareholders with a typical rights issue. As mentioned before I am bottom feeding here and happy to accumulate, whereas line Dana I have accepted a 26% dilution of my shares in FPM, who it looks like didn't take part - and even at 67p will not be adding. The deal in my opinion is certainly not shareholder value !! i would think FPM would have its hands full now and PMG is on its own, keeping its powder dry. GLA and lets have a half full pint not half empty
Hi lsengard while i agree graham would not give up his throne the two companies together would have great acerage for development and i am sure tom cross would be given a favourable position in the new company to help his revenge against the dana board i see the next set of results showing a turnaround in cash flow and profit for PMG but i also am aware that the share price has fallen to levels below that of when tom cross came on board and the company has transformed immensely in the past few years the recent transaction in shares and the current status of the company would lead me to think that there could be take over very soon
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