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Message: Wednesday Morning Toughts

Wednesday Morning Toughts

posted on Nov 26, 2008 12:25AM

I didn't think to write about this company any more but here is my opinion.

First of all in CEO's letter we had statement that company is working in the best interest of Investors. Is it lost of sp value and dilution of stock the best interest for loyal shareholders? What are you talking about Mr Merriam? Dilution of stock in the Bear Market is something so bad to be true. This management is totally bad. They didn't do anything for shareholders. Only dilution of stock. I will write here some few points about this company:

1. Great properties and TPU, because of that we all came in this stock and not because of management

2. Very bad management. They know only how to dilute stock and they sell brutal even now in bid. Very smart! They need to pay debts and they need money for Kentucky property. Ok, then sell the part of the company, for example Tennessee, you can't afford this property if you don't have enough money. What do you think? Next year will be more buyer for next dilution? I don't think so. You can still save your company if you sell part of it or make some agreement with Trafalgar to work together and share the profit. In any other case this stock will be default soon. And the other thing which is also bad that they don't know nothing about Natural Gas and Oil, then sell some property and hire some company or even hire well-known petroleum engineer David Shroff to work for you. On the end this will briing new money to the Company.

3. The only thing keeping few shareholders in this stock is that they hire well-known petroleum engineer David Shroff who can finally do something smart for this company. They wait few years to do such kind of thing. Very smart! If he will have good result then we can expect some rise in sp because he has some credibility. But I hope that company until then will not sell so many shares in bid like crazy.

4. Oil and Natural Gas will soon go up in prices, I expect February to be very good month for Oil, this will make many company interesting again. This is another good thing if this company will be smart enough to survive.

Conclusion is this: You can hold this stock until the middle of December because I think that David Shroff will give to us some good results. That will give something good to the sp of pltg. Hold for a longer time is the only matter of management. I they will come with some other business politics and not dilution of shares then they will survive hard times that will soon come.

I wish you all the best if you are still in this stock!

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